Quarterly report pursuant to Section 13 or 15(d)

Nature of Operations and Summary of Significant Accounting Policies (Tables)

v3.20.1
Nature of Operations and Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Franchisor Disclosure
The following table summarizes the number of clinics in operation under franchise agreements and as company-owned or managed clinics for the three months ended March 31, 2020 and 2019:

Three Months Ended
March 31,
Franchised clinics: 2020 2019
Clinics open at beginning of period 453    394   
Opened during the period 16    12   
Sold during the period —    (1)  
Closed during the period —    (1)  
Clinics in operation at the end of the period 469    404   
Three Months Ended
March 31,
Company-owned or managed clinics: 2020 2019
Clinics open at beginning of period 60    48   
Opened during the period    
Acquired during the period —     
Closed during the period —    (1)  
Clinics in operation at the end of the period 61    50   
Total clinics in operation at the end of the period 530    454   
Clinic licenses sold but not yet developed 176    145   
Executed letters of intent for future clinic licenses 36    27   
Schedule of Earnings (Loss) per Common Share
Three Months Ended
March 31,
2020 2019
Net Income $ 814,947    $ 952,644   
Weighted average common shares outstanding - basic 13,890,673    13,751,196   
Effect of dilutive securities:
Unvested restricted stock and stock options 592,911    504,810   
Weighted average common shares outstanding - diluted 14,483,584    14,256,006   
Basic earnings per share $ 0.06    $ 0.07   
Diluted earnings per share $ 0.06    $ 0.07   
Potentially dilutive securities excluded from the calculation of diluted net income per common share as the effect would be anti-dilutive were as follows:
Three Months Ended
March 31,
Weighted average potentially dilutive securities: 2020 2019
Unvested restricted stock —    3,339   
Stock options 101,692    69,675