Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.3
Earnings Per Share
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
10. EARNINGS PER SHARE

 

Potentially dilutive securities, issued by the Company, were comprised of the following:

 

    September 30,
2019
    September 30,
2018
 
Stock purchase warrants     3,791,331       3,179,500  
Convertible debt warrants     131,250       536,250  
Options     2,083,000       1,534,000  
Total     6,005,581       5,249,750  

 

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 and nine months ended September 30, 2019 and 2018.

 

    Three Months Ended     Nine months ended  
    September 30,
2019
    September 30,
2018
    September 30,
2019
    September 30,
2018
 
Net income (loss)   $ 1,049,699     $ (784,573 )   $ 2,341,120     $ (2,668,998 )
Weighted average shares outstanding, basic     35,707,788       25,646,011       31,523,679       22,056,665  
Effect of dilutive common stock equivalents     6,005,581       -       6,005,581       -  
Adjusted weighted average shares outstanding, dilutive     41,713,369       25,646,011       37,529,260       22,056,665  
Basic income (loss) per shares   $ .03     $ (.03 )   $ .07     $ (.12 )
Dilutive income (loss) per share   $ .03     $ (.03 )   $ .06     $ (.12 )