Quarterly report pursuant to Section 13 or 15(d)

LOSS PER SHARE

LOSS PER SHARE

6 Months Ended

Jun. 30, 2020

Basic loss per share is calculated by dividing the net loss by the weighted average number of outstanding common shares during the period. Diluted per share data includes the dilutive effects of options, warrants and restricted stock units. Potential shares of 862,500 and 1,132,500 at June 30, 2020 and June 30, 2019, respectively, consisted of options and restricted stock units.

Computations of basic and diluted weighted average common shares outstanding were as follows:

	Six Months Ended June 30,				Three Months Ended June 30,
	2020		2019		2020		2019
Weighted-average common shares outstanding – basic		23,987,715		23,830,367		23,945,916		23,917,563
Dilutive effect of options, warrants and restricted stock units		—		—		—		—
Weighted-average common shares outstanding – diluted		23,987,715		23,830,367		23,945,916		23,917,563
Options and restricted stock units excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive		862,500		1,132,500		862,500		1,132,500