Earnings (Loss) Per Share

6 Months Ended

Jul. 02, 2022

Earnings (loss) per common share:

Earnings (Loss) Per Share

Note 5: Earnings (Loss) Per Share

Fully diluted earnings (loss) per common share have been computed by dividing earnings by the weighted average number of common shares outstanding, which would account for a potential 282,486 shares to be issued upon conversion of a convertible note as of July 3, 2021. The convertible note for 282,486 shares was included in the calculation of fully diluted earnings for the thirteen and twenty-six weeks ended July 3, 2021. The note was repaid in full on December 22, 2021. There are no dilutive shares issuable in either the thirteen or twenty-six week periods ended July 2, 2022 .

The following table sets forth the computation of basic and diluted earnings per share:

	Thirteen weeks ended July 2, 2022			Thirteen weeks ended July 3, 2021		Twenty-six weeks ended July 2, 2022			Twenty-six weeks ended July 3, 2021
Net income (loss), numerator, basic computation	$	(208	)	$	28	$	(3	)	$	108
Interest expense		—			6		—			12
Net income (loss), numerator, diluted computation	$	(208	)	$	34	$	(3	)	$	120
Weighted average shares - denominator basic computation		5,154			5,154		5,154			5,154
Effect of convertible note		—			282		—			282
Weighted average shares, as adjusted - denominator diluted computation		5,154			5,436		5,154			5,436
Earnings (loss) per common share - basic	$	(0.04	)	$	0.01	$	(0.00	)	$	0.02
Earnings (loss) per common share - diluted	$	(0.04	)	$	0.01	$	(0.00	)	$	0.02

TOFUTTI BRANDS INC.
NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS
(In thousands, except for share and per share data)