Note 5 - Loss Per Common Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 5.    Loss Per Common Share

We are authorized to issue 750,000,000 shares of common stock, $0.25 par value per share. At March 31, 2020, there were 529,534,568 shares of our common stock issued and 6,287,271 shares issued and held in treasury, for a net of 523,247,297 shares outstanding. Basic and diluted loss per common share, after preferred dividends, was $(0.03) and $(0.05) for the three-month periods ended March 31, 2020 and 2019, respectively.

Diluted loss per share for the three months ended March 31, 2020 and 2019 excludes the potential effects of outstanding shares of our convertible preferred stock, as their conversion would have no effect on the calculation of dilutive shares.

For the three months ended March 31, 2020 and 2019, all outstanding restricted stock units, warrants and deferred shares were excluded from the computation of diluted loss per share, as our reported net losses for those periods would cause their conversion and exercise to have no effect on the calculation of loss per share.