Annual report pursuant to Section 13 and 15(d)

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

v3.22.4
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
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, 2022 and 2021:
Year Ended December 31,
Franchised clinics: 2022 2021
Clinics open at beginning of period 610  515 
Opened during the period 121  110 
Acquired during the period 2  — 
Sold during the period (16) (12)
Closed during the period (5) (3)
Clinics in operation at the end of the period 712  610 
Year Ended December 31,
Company-owned or managed clinics: 2022 2021
Clinics open at beginning of period 96  64 
Opened during the period 16  20 
Acquired during the period 16  12 
Sold during the period (2) — 
Closed during the period —  — 
Clinics in operation at the end of the period 126  96 
Total clinics in operation at the end of the period 838  706 
Clinic licenses sold but not yet developed 197  245 
Executed letters of intent for future clinic licenses 38  38 
Schedule of Earnings per Common Share
Year Ended December 31,
2022 2021
Net income $ 1,177,250  $ 6,575,770 
Weighted average common shares outstanding - basic 14,488,314  14,319,448 
Effect of dilutive securities:
Unvested restricted stock and stock options 379,779  616,129 
Weighted average common shares outstanding - diluted 14,868,093  14,935,577 
Basic earnings per share $ 0.08  $ 0.46 
Diluted earnings per share $ 0.08  $ 0.44 
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,
2022 2021
Unvested restricted stock —  58 
Stock options 40,349  4,658