Annual report pursuant to Section 13 and 15(d)

Earnings (Loss) per Common Share (Tables)

Earnings (Loss) per Common Share (Tables)
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
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 shares of common stock used to calculate basic and diluted earnings per share of common stock attributable to the Company’s stockholders:
Year Ended December 31,
2022 2021
Basic earnings per common share:
Net income (loss) - basic $ 15,170  $ (100,769)
Weighted shares outstanding - basic 77,132,774  60,260,156 
Basic earnings (loss) per common share $ 0.20  $ (1.67)
Diluted earnings per common share:
Net income (loss) - basic $ 15,170  $ (100,769)
Add: Convertible Note interest expense, net of tax 15,800 
Reverse: Change in fair value of derivative liability (17,302)
Net income (loss) - diluted $ 13,668  $ (100,769)
Weighted shares outstanding - basic 77,132,774  60,260,156 
Add: Dilutive effects of stock options and restricted stock units 2,050,207 
Add: Dilutive effects of if-converted Convertible Note 6,422,855 
Weighted shares outstanding - diluted 85,605,836  60,260,156 
Diluted earnings (loss) per common share $ 0.16  $ (1.67)
Schedule of securities excluded The Company also excluded the earnout shares as they are not currently issued and outstanding and will not be issued until satisfaction of the applicable stock price levels as described in Note 3.
As of December 31,
Warrants 24,365,719 
Stock Options 1,066,405 
Restricted stock units 2,728,782 
All potentially dilutive common shares in the following table were excluded from the computation of diluted loss per share
for the year ended December 31, 2021 because including them would have had an anti-dilutive effect due to losses reported during those periods.
As of December 31,
Convertible notes payable 7,640,246 
Outstanding warrants 24,365,719 
Stock options 3,209,517 
Restricted stock units 935,148 
Total potential anti-dilutive stock 36,150,630