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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Summary of composition of earnings per share

The following table sets forth the composition of earnings per share:
 

(In Thousands, except share and per share data)

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Net income (loss)

 

$

5,598

 

 

$

289

 

Basic weighted average common shares outstanding

 

 

11,310,386

 

 

 

6,879,658

 

Net effect of dilutive stock options and warrants

 

 

 

 

 

370,805

 

Diluted weighted average common shares outstanding

 

 

11,310,386

 

 

 

7,250,463

 

Net income (loss) per common share:

 

 

 

 

 

 

Basic

 

$

0.49

 

 

$

0.04

 

Diluted

 

$

0.49

 

 

$

0.04

 

 

Schedule of antidilutive securities excluded from computation of earnings per share

The following is a summary of securities that could potentially dilute basic earnings per share in future periods that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Share-based compensation awards

 

 

195,700

 

 

 

 

Warrants

 

 

1,537,484

 

 

 

 

Total anti-dilutive securities

 

 

1,733,184