The following table reconciles the numerator and denominator used to calculate basic and diluted earnings (loss) per share for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
	2026		2025
Numerator:
Net income (loss) attributable to common shareholders	$	(3,289,639)	$	1,257,068
Denominator:
Weighted-average shares outstanding – basic	14,960,210		14,942,522
Dilutive effect of other securities	—		317,302
Weighted-average shares outstanding – diluted	14,960,210		15,259,824

As of March 31, 2026 and 2025, restricted stock awards and options to purchase 688,907 and 810,211 shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive.