| 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 and nine months ended September 30, 2020 and 2019:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
| Franchised clinics: |
2020 |
|
2019 |
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2020 |
|
2019 |
| Clinics open at beginning of period |
477 |
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|
417 |
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|
453 |
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|
394 |
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| Opened during the period |
21 |
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21 |
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49 |
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47 |
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| Sold during the period |
— |
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(6) |
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— |
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(7) |
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| Closed during the period |
(1) |
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(2) |
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(5) |
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(4) |
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| Clinics in operation at the end of the period |
497 |
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430 |
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497 |
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430 |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
| Company-owned or managed clinics: |
2020 |
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2019 |
|
2020 |
|
2019 |
| Clinics open at beginning of period |
62 |
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51 |
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60 |
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48 |
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| Opened during the period |
1 |
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1 |
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3 |
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4 |
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| Acquired during the period |
— |
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6 |
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— |
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7 |
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| Closed during the period |
— |
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— |
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— |
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(1) |
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| Clinics in operation at the end of the period |
63 |
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58 |
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63 |
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58 |
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| Total clinics in operation at the end of the period |
560 |
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488 |
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560 |
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488 |
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| Clinic licenses sold but not yet developed |
178 |
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179 |
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178 |
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179 |
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| Future clinic licenses under executed letters of intent |
40 |
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29 |
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40 |
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29 |
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| Schedule of Earnings (Loss) per Common Share |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2020 |
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2019 |
|
2020 |
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2019 |
| Net Income |
$ |
1,603,959 |
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$ |
616,980 |
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$ |
2,534,491 |
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$ |
2,031,887 |
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| Basic weighted average common shares outstanding |
14,033,535 |
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13,846,045 |
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13,968,635 |
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13,798,593 |
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| Effect of dilutive securities: |
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| Unvested restricted stock and stock options |
559,572 |
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680,493 |
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554,694 |
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643,610 |
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| Diluted weighted average common shares outstanding |
14,593,107 |
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14,526,538 |
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14,523,329 |
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14,442,203 |
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| Basic earnings per share |
$ |
0.11 |
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$ |
0.04 |
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$ |
0.18 |
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$ |
0.15 |
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| Diluted earnings per share |
$ |
0.11 |
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$ |
0.04 |
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$ |
0.17 |
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$ |
0.14 |
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Potentially dilutive securities excluded from the calculation of diluted net income per common share as the effect would be anti-dilutive were as follows:
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Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
| Weighted average potentially dilutive securities: |
2020 |
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2019 |
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2020 |
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2019 |
| Unvested restricted stock |
— |
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— |
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— |
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— |
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| Stock options |
112,768 |
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2,815 |
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133,194 |
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49,367 |
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