Annual report pursuant to Section 13 and 15(d)

Note 14 - (Loss) income Per Share

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Note 14 - (Loss) income Per Share
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 14.

(Loss) Income Per Share

 

Basic (loss) income per share excludes dilution and is computed by dividing (loss) income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted (loss) income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss, because the inclusion of such items would be antidilutive. The antidilutive effect of 692,312 shares from stock options and 39,847 shares from warrants were excluded from diluted shares for the year ended December 31, 2021. No shares were excluded from diluted shares for the year ended December 31, 2020.

 

The following is a reconciliation of the amounts used in calculating basic and diluted net (loss) income per common share.

 

   

2021

    

2020

  

Net (loss) income

   $ (1,131,449 )   $ 413,379  

Basic weighted average shares outstanding

     12,574,016       11,222,826  

Dilutive effect of warrants and/or options

     -       826,496  

Diluted weighted average shares outstanding

     12,574,016       12,049,322  

Basic (loss)/earnings per share

   $ (0.09 )   $ 0.04  

Diluted (loss)/earnings per share

   $ (0.09 )   $ 0.03