Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
12. EARNINGS PER SHARE

   

The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computation for the three months and nine months ended September 30, 2020 and 2019.

 

    Three months ended  
    September 30,
2020
    September 30,
2019
 
Net income   $ 3,337,333     $ 1,049,699  
Weighted average shares outstanding, basic     47,878,011       35,707,788  
Effect of dilutive outstanding warrants and stock options     3,748,123       1,898,890  
Adjusted weighted average shares outstanding, dilutive     51,626,134       37,606,678  
Basic income per shares   $ .07     $ .03  
Dilutive income per share   $ .06     $ .03  

  

    Nine months ended  
    September 30,
2020
    September 30,
2019
 
Net income   $ 3,817,758     $ 2,341,120  
Weighted average shares outstanding, basic     41,477,438       31,523,679  
Effect of dilutive outstanding warrants and stock options     2,746,245       667,348  
Adjusted weighted average shares outstanding, dilutive     44,223,683       32,191,027  
Basic income per shares   $ .09     $ .07  
Dilutive income per share   $ .09     $ .07