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7.
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Earnings (Loss) per Share
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The following is the computation of earnings (loss) per basic and diluted share:
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Year Ended December 31,
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(in thousands, except share and per share data)
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2024
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|
|
2023
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|
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|
|
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Numerator:
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|
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|
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Income from continuing operations
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$ |
70 |
|
|
$ |
(190 |
) |
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Add: After tax effect of convertible notes interest
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|
16 |
|
|
|
16 |
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Income from continuing operations attributable to Common Stockholders
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|
86 |
|
|
|
(174 |
) |
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|
|
|
|
|
|
|
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Income (loss) from discontinued operations, net of income taxes
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|
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81 |
|
|
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(3,432 |
) |
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Less: Noncontrolling interest in subsidiary
|
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(66 |
) |
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3,292 |
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Income (loss) from discontinued operations attributable to Common Stockholders
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|
15 |
|
|
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(140 |
) |
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|
|
|
|
|
|
|
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Net earnings (loss) attributable for dilutive securities
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$ |
101 |
|
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$ |
(314 |
) |
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Denominator:
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Weighted average number of common shares - basic
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493,968 |
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493,968 |
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Dilutive effect of:
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Shares issuable upon conversion of convertible notes payable
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254,391 |
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254,391 |
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Shares issuable upon conversion of 95,226 Class A Preferred Shares
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4,380 |
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|
4,380 |
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Shares issuable upon conversion of 231,944 Class C Preferred Shares
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2,319,440 |
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2,319,440 |
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Weighted average number of common shares - dilutive
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3,072,179 |
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3,072,179 |
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Income from continuing operations:
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|
|
|
|
|
|
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Basic
|
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$ |
0.17 |
|
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$ |
(0.35 |
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Diluted
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$ |
0.03 |
|
|
$ |
(0.35 |
) |
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Income (loss) from discontinued operations:
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|
|
|
|
|
|
|
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Basic
|
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$ |
0.03 |
|
|
$ |
(0.28 |
) |
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Diluted
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|
$ |
0.00 |
|
|
$ |
(0.28 |
) |
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Earnings (loss) per share:
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|
|
|
|
|
|
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Basic
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$ |
0.20 |
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$ |
(0.64 |
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Diluted
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$ |
0.03 |
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$ |
(0.64 |
) |
In periods when we incur a net loss, the computation of diluted earnings per share for each of the periods above excludes shares issuable upon conversion of the Company’s Class A Preferred Shares, Class C Preferred Shares and convertible notes payable because the effect of the conversions would be anti-dilutive. Similarly, outstanding options and restricted Common Shares were not included in the computation of diluted earnings per share for each of the periods above because they would be anti-dilutive.
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