RESTATEMENT

12 Months Ended

Dec. 31, 2021

Accounting Changes and Error Corrections [Abstract]

RESTATEMENT

1. RESTATEMENT

The Company restated the earnings per share for the periods presented in the consolidated statement of operations and earnings per share reconciliation table in Note 2. The following table provides the summary of restated numbers.

	Year Ended December 31, 2021
	As Previously Reported		Restated		Net Effect
CONSOLIDATED STATEMENT OF OPERATIONS
Net Income (Loss) Per Share - Diluted	$	0.24	$	0.41	$	0.17
Weighted Average Common Shares Outstanding - Basic		14,336,789		14,336,748		(41	)
Weighted Average Common Shares Outstanding - Diluted		36,915,491		21,793,582		(15,121,909	)
NOTE 2 Earnings (Loss) Per Share
Denominator:
Weighted average common shares outstanding - basic		14,336,789		14,336,748		(41	)
Options		19,482		147,441		127,959
Warrants		144,456		19,426		(125,030	)
Restricted Stock Awards		29,890		1,789		(28,101	)
Convertible Preferred Stock		22,384,874		7,288,178		(15,096,696	)
Weighted average common shares outstanding and assumed conversion - diluted		36,915,491		21,793,582		(15,121,909	)
Diluted net income (loss) per common share	$	0.24	$	0.41	$	0.17
(a) – Outstanding shares of anti-dilutive securities excluded:
Common stock securities		18,901,282		18,779,335		(121,947	)
Convertible preferred stock securities*		-		12,000		12,000

* Preferred stock is convertible into common shares on a 5.556 to 1 ratio.