Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2020

Basic earnings (loss) per share is calculated by dividing the net loss by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share data includes the dilutive effects of options, warrants and restricted stock units. Potential shares of 726,250 and 996,250 at September 30, 2020 and September 30, 2019, respectively, consisted of options and restricted stock units.

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

	Nine Months Ended September 30,				Three Months Ended September 30,
	2020		2019		2020		2019
Weighted-average common shares outstanding – basic		23,992,203		23,935,304		24,012,333		24,138,191
Dilutive effect of options, warrants and restricted stock units		—		—		509,375		—
Weighted-average common shares outstanding – diluted		23,992,203		23,935,304		24,521,708		24,138,191
Options and restricted stock units excluded from the computation of diluted earnings (loss) per share because the effect of inclusion would have been anti-dilutive		726,250		996,250	-0-			996,250