Quarterly report pursuant to Section 13 or 15(d)

3. Summary of Significant Accounting Policies (Tables)

v3.20.2
3. Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Computation of earnings per share
    Three Months Ended  
    June 30,  
    2020     2019  
Numerator:            
Income (loss) from continuing operations   $ (709,000 )   $ 674,000  
Income from discontinued operations     949,000       41,000  
Net income   $ 240,000     $ 715,000  
                 
Denominator:                
Weighted-average number of common shares outstanding: basic     1,839,000       1,316,000  
Common stock to be issued upon vesting of restricted stock units     4,000       3,000  
Conversion of Series C     –       17,000  
Weighted-average number of common shares outstanding: diluted     1,843,000       1,336,000  
                 
Income (loss) per share from continuing operations basic   $ (0.39 )   $ 0.51  
Income per share from discontinued operations basic     0.52       0.03  
Net income per share: basic   $ 0.13     $ 0.54  
                 
Income (loss) per share from continuing operations diluted   $ (0.38 )   $ 0.51  
Income per share from discontinued operations diluted     0.51       0.03  
Net income per share: diluted   $ 0.13     $ 0.54  
Schedule of antidilutive shares

The computation of basic loss per share for the three months ended June 30, 2020 and 2019 excludes the potentially dilutive securities summarized in the table below because their inclusion would be anti-dilutive.

 

    June 30,  
    2020     2019  
Common stock to be issued upon vesting of restricted stock units     5,000       –  
Common stock to be issued upon exercise of options     252,000       155,000  
Common stock to be issued upon exercise of warrants     169,000       446,000  
Common stock to be issued upon exercise of common stock units (1)     46,000       46,000  
      472,000       647,000  

 

(1) Consists of 30,668 restricted stock units and warrants to purchase 15,332 shares of common stock
Disaggregated Revenue by Source

Disaggregation of Revenue

 

The following table presents the Company’s disaggregated revenues by revenue source:

 

    Three Months Ended June 30,  
Product   2020     2019  
Human Care   $ 5,377,000     $ 4,072,000  
Animal Care     377,000       423,000  
Other     13,000       –  
Total   $ 5,767,000     $ 4,495,000