| Earnings (Loss) per Share |
| (3) |
Earnings (Loss) per Share |
Basic earnings (loss) per share is calculated
by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the
period. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable,
the additional potential common shares that would have been outstanding related to dilutive options, warrants and unvested restricted
stock units to the extent such shares are dilutive.
The following table sets forth the computation
of basic and diluted earnings (loss) per share of common stock for the three months ended March 31, 2025 and 2024:
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share of Common Stock
| | |
2025 | | |
2024 | |
| | |
Three Months Ended March 31, | |
| | |
2025 | | |
2024 | |
| Basic earnings (loss) per share attributable to common stock: | |
| | | |
| | |
| Numerator | |
| | | |
| | |
| Net income (loss) | |
$ | (1,864,873 | ) | |
$ | 3,513,621 | |
| | |
| | | |
| | |
| Denominator | |
| | | |
| | |
| Weighted avg. common shares outstanding | |
| 5,348,557 | | |
| 5,315,830 | |
| | |
| | | |
| | |
| Basic earnings (loss) per share attributable to common stock | |
$ | (0.35 | ) | |
$ | 0.66 | |
| | |
| | | |
| | |
| Diluted earnings (loss) per share attributable to common stock: | |
| | | |
| | |
| Numerator | |
| | | |
| | |
| Net income (loss) | |
$ | (1,864,873 | ) | |
$ | 3,513,621 | |
| Effect of dilutive securities on net earnings (loss): | |
| | | |
| | |
| Common stock warrants | |
| - | | |
| (40,072 | ) |
| Total net income (loss) for purpose of calculating diluted net income
(loss) per common share | |
$ | (1,864,873 | ) | |
$ | 3,553,693 | |
| Denominator | |
| | | |
| | |
| Weighted avg. common shares outstanding | |
| 5,348,557 | | |
| 5,315,830 | |
| Weighted average effect of dilutive securities: | |
| | | |
| | |
| Stock options | |
| - | | |
| 34,446 | |
| Warrants | |
| - | | |
| 7,254 | |
| Dilutive securities | |
| - | | |
| 7,254 | |
| Total shares for purpose of calculating diluted net earnings (loss) per common share | |
| 5,348,557 | | |
| 5,357,530 | |
| | |
| | | |
| | |
| Diluted earnings (loss) per share attributable to common stock | |
$ | (0.35 | ) | |
$ | 0.66 | |
The
computation of diluted loss per share for the three months ended March 31, 2025 and 2024 does not include the following stock
options and warrants to purchase shares of common stock or unvested restricted stock units in the computation of diluted earnings (loss) per share because these instruments were antidilutive:
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
| | |
March 31, | |
| | |
2025 | | |
2024 | |
| Stock options | |
| 349,616 | | |
| 252,251 | |
| Unvested restricted stock units | |
| 19,346 | | |
| 14,508 | |
| Warrants | |
| - | | |
| 49,433 | |
|