Note 10 - Earnings per Share

9 Months Ended

Sep. 30, 2021

Note 10 - Earnings per Share

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is determined based on the weighted average number of shares outstanding during the period combined with the incremental average shares that would have been outstanding assuming the conversion of all potentially dilutive common shares into common shares as of the earliest date possible. Potentially dilutive securities include stock options, convertible preferred stock, restricted stock, warrants and OP units, which, subject to certain terms and conditions, may be tendered for redemption by the holder thereof for cash based on the market price of the Company’s common stock or, at the Company’s option and sole discretion, for shares of the Company’s common stock on a one-for-one basis. Stock options, convertible preferred stock, restricted stock, warrants and OP units have been omitted from the Company’s denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the denominator would have no dilutive impact due to the net loss position.

The following table sets forth the computation of earnings per common share for the three and nine months ended September 30, 2021 and 2020 (amounts in thousands, except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
Numerator:	2021			2020			2021			2020
Net loss	$	(2,042	)	$	(1,902	)	$	(7,113	)	$	(6,821	)
Plus: Net loss attributable to noncontrolling interest		222			272			886			1,002
Net loss attributable to common stockholders	$	(1,820	)	$	(1,630	)	$	(6,227	)	$	(5,819	)
Denominator
Basic weighted-average common shares		28,826			22,462			25,399			21,881
Dilutive potential common shares		-			-			-			-
Diluted weighted-average common shares		28,826			22,462			25,399			21,881

Net loss per common share- basic and diluted	$	(0.06	)	$	(0.07	)	$	(0.25	)	$	(0.27	)