Quarterly report pursuant to Section 13 or 15(d)

NET INCOME (LOSS) PER COMMON SHARE (Tables)

v3.21.2
NET INCOME (LOSS) PER COMMON SHARE (Tables)
6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

For the six months ended June 30, 2021 and 2020, the average market prices for the periods ended are less than the exercise price of all the outstanding stock options, therefore, the inclusion of the stock options would be anti-dilutive. For the three months ended June 30, 2021, the average market prices for the periods ended are less than the exercise price of all the outstanding stock options, therefore, the inclusion of the stock options would be anti-dilutive. For the six months ended June 30, 2020, since the effect of common stock equivalents is anti-dilutive with respect to the loss, the convertible promissory notes have also been excluded from the Company’s computation of net loss per common share. For the three months ended June 30, 2020 convertible promissory notes have been included in the Company’s computation of income per common share. For the three and six months ended June 30, 2021 since the convertible promissory notes have been converted into common stock, they have been excluded in the Company’s computation of net income (loss) per common share.

 

   

Three Months

Ended

   

Three Months

Ended

 
   

June 30, 2021

   

June 30, 2020

 

Basic net income per share computation:

               

Net income

  $ 130,289     $ 33,514  

Weighted-average common shares outstanding

    5,062,752       4,501,271  

Basic net income per share

  $ 0.03     $ 0.01  

Diluted net income per share computation:

               

Net income per above

  $ 130,289     $ 33,514  

Interest on convertible debt

    -       4,514  

Net income

    130,289       38,028  

Weighted-average common shares outstanding

    5,062,752       4,501,271  

Incremental shares for warrants and convertible promissory notes

    2,341       212,799  

Total adjusted weighted-average shares

    5,065,093       4,714,070  

Diluted net income per share

  $ 0.03     $ 0.01  

 

   

Six Months

Ended

   

Six Months

Ended

 
   

June 30, 2021

   

June 30, 2020

 

Basic net income (loss):

               

Net income (loss)

  $ 484,968     $ (258,601

)

Weighted-average common shares outstanding

    4,914,844       4,501,271  

Basic net income (loss) per share

  $ 0.10     $ (0.06

)

Diluted net income (loss):

               

Net income (loss) per above

  $ 484,968     $ (258,601

)

Net income (loss)

    484,968       (258,601

)

Weighted-average common shares outstanding

    4,914,844       4,501,271  

Incremental shares for warrants

    1,953       -  

Total adjusted weighted-average shares

    4,916,797       4,501,271  

Diluted net income (loss) per share

  $ 0.10     $ (0.06

)

 

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on income (loss) per share.

 

   

Three Months

June 30, 2021

   

Three Months

June 30, 2020

 

Stock options

    99,990       22,280  

Warrants

    -       4,988  
                 

Total potential dilutive securities not included in income (loss) per share

    99,990       27,268  

 

   

Six Months

June 30, 2021

   

Six Months

June 30, 2020

 

Stock options

    99,990       22,280  

Warrants

    -       4,988  

Convertible promissory notes

    -       212,799  
                 

Total potential dilutive securities not included in income (loss) per share

    99,990       240,067