| 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 six months ended June 30, 2020 and 2019.
| |
|
Three months ended |
|
| |
|
June 30,
2020 |
|
|
June 30,
2019 |
|
| Net income |
|
$ |
2,573,943 |
|
|
$ |
1,062,000 |
|
| Weighted average shares outstanding, basic |
|
|
38,616,610 |
|
|
|
30,326,304 |
|
| Effect of dilutive outstanding warrants and stock options |
|
|
2,399,782 |
|
|
|
1,097,453 |
|
| Adjusted weighted average shares outstanding, dilutive |
|
|
41,016,392 |
|
|
|
31,426,757 |
|
| Basic income per shares |
|
$ |
.07 |
|
|
$ |
.04 |
|
| Dilutive income per share |
|
$ |
.06 |
|
|
$ |
.03 |
|
| |
|
Six months ended |
|
| |
|
June 30,
2020 |
|
|
June 30,
2019 |
|
| Net income |
|
$ |
480,425 |
|
|
$ |
1,291,421 |
|
| Weighted average shares outstanding, basic |
|
|
38,224,109 |
|
|
|
29,389,636 |
|
| Effect of dilutive outstanding warrants and stock options |
|
|
2,017,183 |
|
|
|
1,065,646 |
|
| Adjusted weighted average shares outstanding, dilutive |
|
|
40,241,292 |
|
|
|
30,455,282 |
|
| Basic income per shares |
|
$ |
.01 |
|
|
$ |
.04 |
|
| Dilutive income per share |
|
$ |
.01 |
|
|
$ |
.04 |
|
|