BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

7.        BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

The following table sets forth the computation of basic and fully diluted net loss per common share for the three and six months ended June 30, 2022 and 2021: 

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net loss	$	(228,034	)	$	(931,967	)	$	(537,429	)	$	(2,555,494	)
Denominator:
Weighted average common shares:
Denominator for basic calculation		51,993,031			50,748,437			51,906,335			50,551,299
Weighted average effects of potentially diluted common stock:
Stock options (calculated using the treasury method)		–			–			–			–
Unvested restricted stock grants		–			–			–			–
Denominator for fully diluted calculation		51,993,031			50,748,437			51,906,335			50,551,299
Net loss per common share:
Basic	$	(0.00	)	$	(0.02	)	$	(0.01	)	$	(0.05	)
Fully diluted	$	(0.00	)	$	(0.02	)	$	(0.01	)	$	(0.05	)

Due to the net loss for the three and six months ended June 30, 2022, the effect of all potential common share equivalents was anti-dilutive, and therefore, all such shares were excluded from the computation of diluted weighted average shares outstanding for both periods. For the three and six months ended June 30, 2022, the amount of potential common share equivalents excluded were 1,884,400 for stock options and 1,064,000 for unvested restricted stock awards. Due to the net loss for the three and six months ended June 30, 2021, the effect of all potential common share equivalents was anti-dilutive, and therefore, all such shares were excluded from the computation of diluted weighted average shares outstanding for both periods. For the three and six months ended June 30, 2021, the amount of potential common share equivalents excluded were 1,997,350 for stock options and 1,868,000 for unvested restricted stock awards.