v3.26.1
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2026
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed as net income (loss) available to common stockholders divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated the same as Basic EPS but reflects the potential dilution that could occur from common shares issuable through stock options, restricted stock units (“RSUs”), and warrants in the weighted average number of common shares outstanding. Each stock option, RSU, and warrant represents the right to receive one share of the Company’s common stock.

The following table sets forth the calculation of basic and diluted weighted average shares outstanding and net income (loss) per share for the periods presented:

Three months ended June 30,

Six months ended June 30,

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator:

 

  ​

 

  ​

Net income (loss)

$

110,290

$

181,555

$

(11,184,200)

$

728,079

Preferred dividends

 

(1,875)

 

(1,875)

 

(3,750)

 

(3,750)

Net income (loss) available to common shareholders

$

108,415

$

179,680

$

(11,187,950)

$

724,329

Denominator:

 

 

 

 

Weighted average shares - basic

 

146,607,277

 

118,261,366

 

144,123,564

 

115,994,982

Add - dilutive effect of stock options

 

3,649,484

 

2,499,367

 

 

2,412,816

Add - dilutive effect of RSUs

 

1,379,394

 

1,210,001

 

 

1,150,838

Add - dilutive effect of warrants

 

118,017

 

5,252,701

 

 

4,784,999

Weighted average shares - diluted

 

151,754,172

 

127,223,435

 

144,123,564

 

124,343,635

Net income (loss) per share:

 

 

 

 

Basic

$

nil

$

nil

$

(0.08)

$

0.01

Diluted

$

nil

$

nil

$

(0.08)

$

0.01

The following table summarizes potentially dilutive common stock equivalents that were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive.

Three months ended June 30, 

Six months ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Warrants

 

 

 

130,250

 

Stock options and RSU awards

 

14,675

 

1,897,034

 

6,089,471

 

1,997,034

Total possible share dilution

 

14,675

 

1,897,034

 

6,219,721

 

1,997,034