| 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 June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Basic earnings per common share: |
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| Net income (loss) - basic |
$ |
(21,448) |
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$ |
35,738 |
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$ |
(44,883) |
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$ |
24,982 |
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| Weighted shares outstanding - basic |
5,800,106 |
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3,770,406 |
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|
5,299,921 |
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3,763,443 |
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| Basic earnings (loss) per common share |
$ |
(3.70) |
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$ |
9.48 |
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$ |
(8.47) |
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$ |
6.64 |
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| Diluted earnings per common share: |
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| Net income (loss) - basic |
$ |
(21,448) |
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$ |
35,738 |
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$ |
(44,883) |
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$ |
24,982 |
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| Add: Convertible Note interest expense, net of tax |
— |
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3,938 |
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— |
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7,701 |
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| Reverse: Change in fair value of derivative liability |
— |
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(10,087) |
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— |
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(12,642) |
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| Net income (loss) - diluted |
$ |
(21,448) |
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$ |
29,589 |
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$ |
(44,883) |
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$ |
20,041 |
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| Weighted shares outstanding - basic |
5,800,106 |
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3,770,406 |
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5,299,921 |
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3,763,443 |
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| Add: Dilutive effects of stock options and restricted stock units |
— |
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108,092 |
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— |
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118,610 |
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| Add: Dilutive effects of if-converted Convertible Note |
— |
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382,012 |
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— |
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382,012 |
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| Weighted shares outstanding - diluted |
5,800,106 |
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4,260,511 |
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5,299,921 |
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4,264,065 |
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| Diluted earnings (loss) per common share |
$ |
(3.70) |
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$ |
6.94 |
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$ |
(8.47) |
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$ |
4.70 |
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| Schedule of Securities Excluded |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Convertible notes payable |
260,273 |
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— |
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260,273 |
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— |
| Outstanding warrants |
1,218,286 |
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1,218,286 |
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1,218,286 |
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1,218,286 |
| Stock options |
123,396 |
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47,328 |
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123,396 |
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47,328 |
| Restricted stock units |
356,394 |
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45,766 |
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356,394 |
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39,991 |
| Common and preferred Series C warrants |
— |
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— |
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— |
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— |
| Total anti-dilutive stock |
1,958,349 |
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1,311,380 |
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1,958,349 |
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1,305,605 |
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