Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2025

8.	Earnings Per Share –

The Company computes earnings per share under two different methods, basic and diluted, and presents per-share data for all periods in which statements of operations are presented. Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock and common stock equivalents outstanding.

The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three and six months ended June 30, 2025 and 2024:

	*For the Three Months Ended*
	*June 30,*
	*2025*		*2024*
Basic and diluted earnings per share calculation:
Net income to common stockholders	$	144,782	$	806,570
Weighted average number of common shares outstanding - basic		4,600,023		4,574,365
Basic net income per share	$	0.03	$	0.18
Weighted average number of common shares outstanding - diluted		4,660,492		4,627,039
Diluted net income per share	$	0.03	$	0.17

	*For the Six Months Ended*
	*June 30,*
	*2025*		*2024*
Basic and diluted earnings per share calculation:
Net income to common stockholders	$	927,021	$	818,231
Weighted average number of common shares outstanding - basic		4,588,355		4,574,365
Basic net income per share	$	0.20	$	0.18
Weighted average number of common shares outstanding - diluted		4,641,787		4,615,661
Diluted net income per share	$	0.20	$	0.18

For the three month and six month periods ended June 30, 2025 and 2024, there were common stock equivalents that had a dilutive effect of approximately 60,469 and 52,674, and 53,432 and 41,296 respectively.