| Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited) Selected quarterly financial data has been recast for discontinued operations for the years ended December 31, 2024 and December 31, 2023 and is summarized below.
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2024 |
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2023 |
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Q1 |
Q2 |
Q3 |
Q4 |
Total |
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Q1 |
Q2 |
Q3 |
Q4 |
Total |
| Total revenues |
$ |
12,184,716 |
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$ |
12,610,036 |
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$ |
12,654,396 |
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$ |
14,447,457 |
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$ |
51,896,605 |
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$ |
11,172,863 |
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$ |
11,504,267 |
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$ |
11,591,646 |
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$ |
12,708,701 |
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$ |
46,977,477 |
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| Total costs of revenues |
2,704,512 |
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2,812,389 |
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2,814,963 |
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3,184,791 |
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11,516,655 |
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2,464,319 |
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2,584,772 |
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2,591,567 |
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2,839,987 |
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10,480,645 |
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| Selling and marketing expenses |
2,237,583 |
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3,440,391 |
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2,504,168 |
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2,741,200 |
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10,923,342 |
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2,315,052 |
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2,470,188 |
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2,240,656 |
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1,663,768 |
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8,689,664 |
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| Depreciation and amortization |
329,634 |
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342,454 |
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345,835 |
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345,530 |
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1,363,453 |
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314,796 |
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314,894 |
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318,539 |
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329,919 |
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1,278,148 |
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| General and administrative expenses |
7,339,308 |
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7,793,465 |
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7,478,669 |
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7,222,128 |
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29,833,570 |
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6,336,586 |
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6,547,337 |
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6,444,614 |
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6,903,078 |
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26,231,615 |
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| Total selling, general and administrative expenses |
9,906,525 |
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11,576,310 |
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10,328,672 |
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10,308,858 |
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42,120,365 |
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8,966,434 |
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9,332,419 |
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9,003,809 |
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8,896,765 |
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36,199,427 |
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| Net loss (gain) on disposition or impairment |
275 |
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662 |
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3,581 |
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10,124 |
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14,642 |
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— |
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1,713 |
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87 |
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(22,694) |
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(20,894) |
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| (Loss) income from operations |
(426,596) |
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(1,779,325) |
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(492,820) |
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943,684 |
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(1,755,057) |
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(257,890) |
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(414,637) |
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(3,817) |
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994,643 |
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318,299 |
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| Other (income) loss, net |
(36,259) |
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(80,471) |
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(83,828) |
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(79,729) |
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(280,287) |
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(42,748) |
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105,695 |
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5,484 |
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(4,138) |
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64,293 |
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| (Loss) income before income tax expense |
(390,337) |
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(1,698,854) |
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(408,992) |
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1,023,413 |
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(1,474,770) |
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(215,142) |
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(520,332) |
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(9,301) |
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998,781 |
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254,006 |
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| Income tax expense |
8,582 |
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11,169 |
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5,391 |
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37,000 |
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62,142 |
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(42,187) |
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(95,823) |
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(15,971) |
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11,177,392 |
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11,023,411 |
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| Net income (loss) from continuing operations |
(398,919) |
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(1,710,023) |
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(414,383) |
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986,413 |
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(1,536,912) |
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(172,955) |
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(424,509) |
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6,670 |
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(10,178,611) |
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(10,769,405) |
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| Income (loss) from discontinued operations before income tax expense |
1,516,243 |
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(1,719,222) |
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(2,693,562) |
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(3,883,748) |
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(6,780,289) |
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3,383,195 |
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39,258 |
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(894,990) |
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(1,142,713) |
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1,384,750 |
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| Income tax expense from discontinued operations |
170,345 |
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167,153 |
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57,194 |
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(182,050) |
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212,642 |
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884,076 |
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(64,762) |
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(172,047) |
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(279,725) |
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367,542 |
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| Net income (loss) from discontinued operations |
1,345,898 |
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(1,886,375) |
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(2,750,756) |
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(3,701,698) |
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(6,992,931) |
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2,499,119 |
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104,020 |
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(722,943) |
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(862,988) |
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1,017,208 |
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| Net income (loss) |
946,979 |
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(3,596,398) |
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(3,165,139) |
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(2,715,285) |
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(8,529,843) |
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2,326,164 |
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(320,489) |
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(716,273) |
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(11,041,599) |
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(9,752,197) |
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| Net income (loss) from continuing operations per common share |
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| Basic |
$ |
(0.03) |
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$ |
(0.11) |
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$ |
(0.03) |
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$ |
0.07 |
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$ |
(0.10) |
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$ |
(0.01) |
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$ |
(0.03) |
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$ |
— |
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$ |
(0.69) |
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$ |
(0.73) |
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| Diluted |
$ |
(0.03) |
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$ |
(0.11) |
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$ |
(0.03) |
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$ |
0.06 |
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$ |
(0.10) |
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$ |
(0.01) |
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$ |
(0.03) |
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$ |
— |
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$ |
(0.68) |
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$ |
(0.72) |
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| Net income (loss) from discontinued operations per common share: |
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| Basic |
$ |
0.09 |
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$ |
(0.13) |
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$ |
(0.18) |
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$ |
(0.25) |
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$ |
(0.47) |
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$ |
0.17 |
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$ |
0.01 |
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$ |
(0.05) |
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$ |
(0.06) |
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$ |
0.07 |
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| Diluted |
$ |
0.09 |
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$ |
(0.12) |
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$ |
(0.18) |
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$ |
(0.24) |
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$ |
(0.46) |
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$ |
0.17 |
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$ |
0.01 |
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$ |
(0.05) |
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$ |
(0.06) |
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$ |
0.07 |
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| Net income (loss) per common share: |
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| Basic |
$ |
0.06 |
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$ |
(0.24) |
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$ |
(0.21) |
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$ |
(0.18) |
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$ |
(0.57) |
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$ |
0.16 |
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$ |
(0.02) |
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$ |
(0.05) |
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$ |
(0.75) |
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$ |
(0.66) |
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| Diluted |
$ |
0.06 |
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$ |
(0.24) |
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$ |
(0.21) |
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$ |
(0.18) |
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$ |
(0.56) |
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$ |
0.16 |
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$ |
(0.02) |
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$ |
(0.05) |
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$ |
(0.74) |
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$ |
(0.65) |
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For the calendar year ended December 31, 2023, we utilized the discrete effective tax rate method, as allowed by Accounting Standards Codification (“ASC”) 740-270-30-18, “Income Taxes—Interim Reporting,” to calculate our interim income tax provision. The discrete method treats the year-to-date period as if it was the annual period and determines the income tax expense or benefit on that basis. The Company believes that the use of this discrete method is more appropriate than the annual effective tax rate method due to the sensitivity of tax adjustments to marginal pre-tax book profitability anticipated for the year.
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