Note 10 - Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

10. Earnings (Loss) Per Share

Basic loss per share excludes dilution and is computed by dividing loss available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive. The antidilutive effect of 672,373 shares from stock options were excluded from diluted shares for the three months ended September 30, 2021.

The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per common share:

	Net income					Per share
	(loss)			Shares		amount
Basic net loss per common share for the three months ended September 30, 2021:
Loss available to common shareholders	$	(95,527	)		12,596,126	$	(0.01	)
Effect of dilutive stock options		-			-		-
Diluted net loss per common share for the three months ended September 30, 2021	$	(95,527	)		12,596,126	$	(0.01	)
Basic net income per common share for the three months ended September 30, 2020:
Income available to common shareholders	$	214,703			11,211,760	$	0.02
Effect of dilutive stock options		-			625,667		-
Diluted net income per common share for the three months ended September 30, 2020:	$	214,703			11,837,427	$	0.02

	Net income				Per share
	(loss)		Shares		amount
Basic net income per common share for the nine months ended September 30, 2021:
Income available to common shareholders	$	218,445		11,957,878	$	0.02
Effect of dilutive stock options		-		627,036		-
Diluted net income per common share for the nine months ended September 30, 2021	$	218,445		12,584,914	$	0.02
Basic net income per common share for the nine months ended September 30, 2020:
Income available to common shareholders	$	53,745		11,211,760	$	-
Effect of dilutive stock options		-		598,632		-
Diluted net income per common share for the nine months ended September 30, 2020	$	53,745		11,810,392	$	-