Stockholders' Deficit and Loss Per Share

6 Months Ended

Jun. 30, 2024

Stockholders' Deficit and Loss Per Share [Line Items]

Equity [Text Block]

Note 10 – Stockholders’ Deficit and Loss Per Share

The following table presents the calculation of loss per share for the three and six months ended June 30, 2024 and 2023:

In thousands, except per share data		Three months ended June 30			Six months ended June 30
	2024		2023		2024		2023
Numerator:
Net loss, as reported	$	(858)	$	(875)	$	(2,127)	$	(1,733)
Denominator:
Weighted average shares outstanding – basic and diluted		13,496		13,491		13,496		13,469
Loss per share – basic and diluted	$	(0.06)	$	(0.06)	$	(0.16)	$	(0.13)

Basic loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding for the period. Diluted loss per common share is computed by dividing net loss attributable to common shares, by the weighted average number of common shares outstanding, adjusted for shares that would be assumed outstanding after warrants and stock options vested under the treasury stock method.

As of June 30, 2024 and 2023, the Company excluded the effects of the outstanding stock options to purchase 280,000 shares in the calculation of diluted loss per share since their inclusion would have been anti-dilutive. The Company had other warrants to purchase 1.1 million and 1.6 million shares of Common Stock outstanding as of June 30, 2024 and 2023, respectively, which were excluded from the calculation of diluted loss per share because their exercise price was greater than the average stock price for the period and their inclusion would have been anti-dilutive.

A summary of the status of the Company’s stock options as of June 30, 2024 and the changes during the six months then ended is presented below:

	Number of Options	Weighted Average Exercise Price		Weighted average remaining contractual life (in years)	Average intrinsic value
Outstanding at December 31, 2023	280,000	$	0.40	2.3	$	0.19
Granted	-		-
Expired	-		-		$	0.19
Outstanding at June 30, 2024	280,000	$	0.40	1.8	$	0.19
Exercisable at the end of the period	280,000	$	0.40	1.8	$	0.19

There was no equity based compensation for the three or six months ended June 30, 2024.  Equity based compensation was $38,000 for the six months ended June 30, 2023. There was no equity based compensation for the three months ended June 30, 2023. There is no more unrecognized equity based compensation cost related to unvested stock options as of June 30, 2024.