9. BASIC AND FULLY DILUTED NET INCOME PER COMMON
SHARE
The following table sets forth the computation
of basic and fully diluted net income per common share for the years ended December 31, 2025 and 2024:
| Schedule of computation
of basic and fully diluted net income per common share | |
| | |
| |
| | |
2025 | | |
2024 | |
| Numerator: | |
| | | |
| | |
| Net income | |
$ | 7,551,613 | | |
$ | 3,815,907 | |
| Denominator: | |
| | | |
| | |
| Weighted average common shares: | |
| | | |
| | |
| Denominator for basic calculation | |
| 54,426,584 | | |
| 53,207,555 | |
| Weighted average effects of potentially diluted common stock: | |
| | | |
| | |
| Stock options (calculated under treasury method) | |
| 1,098,925 | | |
| 966,385 | |
| Unvested restricted stock awards | |
| 4,123,022 | | |
| 1,414,519 | |
| Denominator for fully diluted calculation | |
$ | 59,648,531 | | |
$ | 55,588,459 | |
| Net income per common share: | |
| | | |
| | |
| Basic | |
$ | 0.14 | | |
$ | 0.07 | |
| Fully diluted | |
$ | 0.13 | | |
$ | 0.07 | |
|