| BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE |
8. BASIC AND FULLY
DILUTED NET INCOME (LOSS) PER COMMON SHARE
The following table sets forth the computation
of basic and fully diluted net income per common share for the three and nine months ended September 30, 2026 and 2025:
| Schedule of computation
of basic and fully diluted net income per common share | |
| |
| |
| |
|
| | |
Three Months Ended September 30, | |
Nine Months Ended September 30, |
| | |
2026 | |
2025 | |
2026 | |
2025 |
| Numerator: | |
| |
| |
| |
|
| Net income | |
$ | 6,735,694 | | |
$ | 2,215,135 | | |
$ | 18,931,149 | | |
$ | 6,188,996 | |
| Denominator: | |
| | | |
| | | |
| | | |
| | |
| Weighted average common shares: | |
| | | |
| | | |
| | | |
| | |
| Denominator for basic calculation | |
| 56,703,842 | | |
| 54,797,527 | | |
| 56,000,291 | | |
| 54,205,002 | |
| Weighted average effects of potentially diluted common stock: | |
| | | |
| | | |
| | | |
| | |
| Stock options (calculated using the treasury method) | |
| 1,442,338 | | |
| 1,272,519 | | |
| 1,321,070 | | |
| 1,055,507 | |
| Unvested restricted stock grants | |
| 4,573,040 | | |
| 5,700,474 | | |
| 5,047,022 | | |
| 3,694,912 | |
| Denominator for fully diluted calculation | |
| 62,719,220 | | |
| 61,770,520 | | |
| 62,368,383 | | |
| 58,955,421 | |
| Net income per common share: | |
| | | |
| | | |
| | | |
| | |
| Basic | |
$ | 0.12 | | |
$ | 0.04 | | |
$ | 0.34 | | |
$ | 0.11 | |
| Fully diluted | |
$ | 0.11 | | |
$ | 0.04 | | |
$ | 0.30 | | |
$ | 0.10 | |
There were no potentially dilutive securities excluded from the computation
of diluted net income per common share because their effect would have been anti-dilutive for the three and nine months ended September
30, 2026 and 2025.
|