Annual report pursuant to Section 13 and 15(d)

Note 12 - Income (Loss) Per Share

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Note 12 - Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
12.
         
Income (Loss) Per Share
 
Basic income (loss) per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted income (loss) 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.
No
shares were excluded from diluted shares for the year ended
December 31, 2020.
The antidilutive effect of
67,312
from stock options were excluded from diluted shares for the year ended
December 31, 2019.
 
The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per common share.
 
                   
Per share
  
   
Net income (loss)
    
Shares
    
amount
  
Basic net income per common share for the year ended December 31, 2020:
                        
Income available to common shareholders
   $
413,379
      
11,222,826
     $
0.04
  
Effect of dilutive stock options
    
-
      
826,496
      
(0.01
 )
Diluted net income per common share for the year ended December 31, 2020:
   $
413,379
      
12,049,322
     $
0.03
  
                         
Basic net loss per common share for the year ended December 31, 2019:
                        
Loss available to common shareholders
   $
(717,246
 )    
11,208,308
     $
(0.06
 )
Effect of dilutive stock options
    
-
      
-
      
-
  
Diluted net loss per common share for the year ended December 31, 2019:
   $
(717,246
 )    
11,208,308
     $
(0.06
 )