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Significant Accounting Policies (Policies)
3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Earnings Per Share, Policy [Policy Text Block]
Loss per Share
 
Net loss per common share is computed pursuant to ASC
260
-
10
-
45.
Basic loss per share is computed based on the weighted average number of common shares outstanding during the period. Diluted net loss per share is calculated by dividing net loss by the diluted weighted average common shares outstanding, which includes the effect of potentially dilutive securities. During periods when there is a net loss, all potentially dilutive shares are anti-dilutive and are excluded from the calculation of net loss per share. Diluted earnings per share is similarly computed except that the denominator includes the effect, using the treasury stock method, of unvested restricted stock and convertible notes, if including such potential shares of common stock is dilutive. For the
three
-months ended
March 31, 2021
and
2020,
the common stock equivalents of the convertible note agreements were
not
included in diluted earnings per share computations because their effect was antidilutive.
New Accounting Pronouncements, Policy [Policy Text Block]
Recently Adopted Accounting Pronouncements
 
No
pronouncements were adopted by the Company during the
three
-month period ended
March 31, 2021.
 
Recent Accounting Pronouncements
Not
Yet Adopted
 
In
August 2020,
the Financial Accounting Standards Board (“FASB”) issued an accounting pronouncement (ASU
2020
-
06
) related to the measurement and disclosure requirements for convertible instruments and contracts in an entity's own equity. The pronouncement simplifies and adds disclosure requirements for the accounting and measurement of convertible instruments and the settlement assessment for contracts in an entity's own equity. As a smaller reporting company, as defined by the SEC, this pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after
December 15, 2023.
The Company is currently evaluating the impact of this ASU on the consolidated financial statements.