Annual report pursuant to Section 13 and 15(d)

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

v3.20.4
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 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 for the years ended December 31, 2020 and 2019:
Year Ended December 31,
Franchised clinics: 2020 2019
Clinics open at beginning of period 453  394 
Opened during the period 70  71 
Sold during the period (1) (8)
Closed during the period (7) (4)
Clinics in operation at the end of the period 515  453 

Year Ended December 31,
Company-owned or managed clinics: 2020 2019
Clinics open at beginning of period 60  48 
Opened during the period 3  5 
Acquired during the period 1  8 
Closed during the period —  (1)
Clinics in operation at the end of the period 64  60 
Total clinics in operation at the end of the period 579  513 
Clinic licenses sold but not yet developed 212  170 
Executed letters of intent for future clinic licenses 41  34 
Schedule of Earnings (Loss) per Common Share
Year Ended December 31,
2020 2019
Net income $ 13,167,314  $ 3,323,712 
Weighted average common shares outstanding - basic 14,003,708  13,819,149 
Effect of dilutive securities:
Unvested restricted stock and stock options 579,169  648,418 
Weighted average common shares outstanding - diluted 14,582,877  14,467,567 
Basic earnings per share $ 0.94  $ 0.24 
Diluted earnings per share $ 0.90  $ 0.23 
Potentially dilutive securities excluded from the calculation of diluted net income per common share as the effect would be anti-dilutive were as follows:
Year Ended December 31,
2020 2019
Unvested restricted stock —  — 
Stock options 94,294  39,286