Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2024

Basic net earnings (loss) per common share is computed by dividing net income (loss) by the weighted-average number of shares of Common Stock outstanding. Diluted earnings (loss) per common share reflects, in periods in which it has a dilutive effect, the impact of common shares issuable upon exercise of stock options and warrants as well as non-vested restricted stock awards. The computation of diluted earnings (loss) per common share excludes those options and warrants with an exercise price in excess of the average market price of the Company’s Common Stock during the periods presented. For the three months and nine months ended September 30, 2024, there were -0- and 61,270 options with an exercise price in excess of the average market price of the Company’s Common Stock during the periods. For the three months and nine months ended September 30, 2024, there were no warrants with an exercise price in excess of the average market price of the Company’s Common Stock during the periods.

The computation of diluted earnings (loss) per common share excludes outstanding options, warrants and non-vested restricted stock awards in periods where the exercise of such options and warrants or vesting of such restricted stock awards would be anti-dilutive. For the three months and nine months ended September 30, 2023, no options, warrants or restricted stock awards were included in the computation of diluted loss per common share as they would have been anti-dilutive for the relevant periods and, as a result, the weighted average number of shares of Common Stock used in the calculation of diluted loss per common share has not been adjusted for the effect of such options, warrants and non-vested restricted stock awards.

The reconciliation of the weighted average number of shares of Common Stock used in the calculation of basic and diluted earnings (loss) per common share follows:


	Three months ended September 30		Nine months ended September 30
	2024	2023	2024	2023

Weighted average number of shares outstanding	11,404,360	10,756,156	11,142,043	10,754,709

Effect of dilutive securities, common share equivalents:
Stock options	182,607	-	159,900	-
Warrants	752,619	-	731,520	-
Restricted stock awards	241,542	-	216,113	-

Weighted average number of shares outstanding, used for computing diluted earnings (loss) per share	12,581,128	10,756,156	12,249,576	10,754,709