Annual report [Section 13 and 15(d), not S-K Item 405]

Income (Loss) Per Share

Income (Loss) Per Share

12 Months Ended

Dec. 31, 2025

Note D – Income (Loss) Per Share

Basic net 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 effect of restricted stock units. Potentially dilutive shares of 512,500 and 487,500 at December 31, 2025 and 2024, respectively, consist of restricted stock units. However, as the Company generated a net loss in 2025 and 2024, 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:


	2025		2024

Weighted-average common shares outstanding – basic		22,848,402		23,250,224

Dilutive effect of restricted stock units		—		—

Weighted-average common shares outstanding – diluted		22,848,402		23,250,224
Restricted stock units excluded from the computation of diluted income per share because the effect of inclusion would have been anti-dilutive		512,500		487,500