Annual report pursuant to Section 13 and 15(d)

Income (Loss) Per Share

Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Note D – Income (Loss) Per Share

Basic Income (Loss) per share is calculated by dividing the net income (loss) by the weighted average number of outstanding common shares during the period. Diluted per share data included the dilutive effects of stock options and restricted stock units. Potentially dilutive shares of 625,000 and 12,500 at December 31, 2022 and 2021, respectively, consist of restricted stock units. However, as the Company generated a net loss in 2022, all potentially dilutive shares were not reflected in diluted net loss per share because the impact of such instruments was anti-dilutive. Computations of basic and diluted weighted average common shares outstanding are as follows:

Schedule of earnings per share
	2022		2021

Weighted-average common shares outstanding – basic		23,825,917		24,136,821

Dilutive effect of restricted stock units and stock options		—		393,747

Weighted-average common shares outstanding – diluted		23,825,917		24,530,568

Restricted stock units excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive		625,000		12,500