Annual report pursuant to Section 13 and 15(d)

Note 5 - Loss Per Share

Note 5 - Loss Per Share

12 Months Ended

Dec. 31, 2020

5.	Loss Per Share

Basic loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares. Diluted loss per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that

may

be issued by the Company include convertible debt, convertible preferred stock, options and warrants.

Diluted loss per common share for the years ended

December 31, 2020

and

2019

excludes the effects of

1,111,744

and

1,487,681

common share equivalents, respectively, since such inclusion would be anti-dilutive. The excluded shares consist of common shares issuable upon exercise of outstanding stock options and warrants.

The Company's unvested stock awards contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid (referred to as “participating securities”). Therefore, the unvested stock awards are required to be included in the number of shares outstanding for both basic and diluted earnings per share calculations. However, due to our loss from continuing operations,

60,000

and

15,000

shares of unvested restricted stock for the years ended

December 31, 2020

and

2019,

respectively, were excluded in determining basic and diluted loss per share because such inclusion would be anti-dilutive.