(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2024

Note 11. (Loss) Earnings Per Share

Basic (loss) earnings per share (“EPS”) is calculated by dividing net loss or earnings, as applicable, attributable to the Company’s common shareholders by the weighted average number of common shares outstanding for the period including participating securities, if applicable. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares and then shared in the earnings of the Company. OP Units are convertible into Class I Common Shares of the Company on a 1:1 basis and are allocated income on the same basis as common shares of the Company. Therefore, the result of an assumed conversion of the OP Units would have neither a dilutive nor anti-dilutive effect on earnings per share. Accordingly, basic (loss) EPS is the same as diluted (loss) EPS for the three and nine months ended September 30, 2024 and 2023, respectively. The following table provides a reconciliation of the numerator and denominator of the EPS calculations for the three and nine months ended September 30, 2024 and 2023, respectively:


	Three months ended September 30,						Nine months ended September 30,
	2024			2023			2024			2023
Numerator
Net (loss)	$	(118,000	)	$	(404,000	)	$	(732,000	)	$	(1,237,000	)
Net loss attributable to noncontrolling interests		38,000			134,000			243,000			413,000
Net (loss) attributable to common shareholders, basic and diluted	$	(80,000	)	$	(270,000	)	$	(489,000	)	$	(824,000	)

Denominator
Weighted average number of common shares outstanding, basic and diluted		16,270,862			15,485,383			16,030,280			15,155,258

Net (loss) per common share attributable to common shareholders, basic and diluted	$	(0.00	)	$	(0.02	)	$	(0.03	)	$	(0.05	)