Schedule of Reconciliation of Common Shares Used to Calculate Basic and Diluted Earnings Per Common Share |
The following table reconciles the earnings (loss) and number of common shares used to calculate basic and diluted earnings per common share attributable to the Company’s shareholders:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
Basic earnings per common share: |
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Net income (loss) - basic |
$ |
(1,231) |
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$ |
(49,461) |
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$ |
23,751 |
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$ |
(122,955) |
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Weighted shares outstanding - basic |
75,745,388 |
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73,740,294 |
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75,429,444 |
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55,298,257 |
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Basic earnings (loss) per common share |
$ |
(0.02) |
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$ |
(0.67) |
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$ |
0.31 |
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$ |
(2.22) |
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Diluted earnings per common share: |
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Net income (loss) - basic |
$ |
(1,231) |
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$ |
(49,461) |
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$ |
23,751 |
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$ |
(122,955) |
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Add: Convertible Note interest expense, net of tax |
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11,830 |
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Reverse: Change in fair value of derivative liability |
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(16,370) |
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Net income (loss) - diluted |
$ |
(1,231) |
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$ |
(49,461) |
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$ |
19,211 |
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$ |
(122,955) |
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Weighted shares outstanding - basic |
75,745,388 |
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73,740,294 |
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75,429,444 |
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55,298,257 |
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Add: Dilutive effects of stock options and restricted stock units |
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2,304,714 |
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Add: Dilutive effects of if-converted Convertible Note |
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7,640,246 |
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Weighted shares outstanding - diluted |
75,745,388 |
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73,740,294 |
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85,374,404 |
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55,298,257 |
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Diluted earnings (loss) per common share |
$ |
(0.02) |
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$ |
(0.67) |
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$ |
0.23 |
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$ |
(2.22) |
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Schedule of Securities Excluded |
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Outstanding as of September 30, |
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2022 |
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2021 |
Convertible notes payable |
7,640,246 |
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7,640,246 |
Outstanding warrants |
24,365,719 |
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24,365,719 |
Stock options |
3,298,031 |
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3,410,449 |
Restricted stock units |
3,172,691 |
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739,824 |
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Total anti-dilutive stock |
38,476,687 |
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36,156,238 |
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