| Earnings (Loss) Per Share |
13. Earnings (Loss) Per Share
Following is the computation of earnings (loss) per basic and diluted share:
|
|
|
Three months ended
September 30,
|
|
Nine months ended
September 30,
|
| |
|
2022
|
|
2021
|
|
2022
|
|
2021
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(6,083,670 |
)
|
|
$
|
(1,298,122 |
)
|
|
$
|
(12,944,628 |
)
|
|
$
|
(3,892,715 |
)
|
|
Less: deemed dividend for Earnout
Shares
|
|
|
(4,957,366 |
)
|
|
|
|
|
|
|
(4,957,366 |
)
|
|
|
|
|
|
Net loss attributable to common stockholders
|
|
$
|
(11,041,036 |
)
|
|
$
|
(1,298,122 |
)
|
|
$
|
(17,901,994 |
)
|
|
$
|
(3,892,715 |
)
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares used to compute basic and diluted EPS
|
|
|
16,535,661 |
|
|
|
9,637,962 |
|
|
|
11,983,183 |
|
|
|
9,637,962 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted earnings (loss) per
share
|
|
$
|
(0.67 |
)
|
|
$
|
(0.13 |
)
|
|
$
|
(1.49 |
)
|
|
$
|
(0.40 |
)
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anti-dilutive securities excluded from shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options
|
|
|
3,934,165 |
|
|
|
3,359,932 |
|
|
|
3,934,165 |
|
|
|
3,359,932 |
|
|
Warrants
|
|
|
18,722,425 |
|
|
|
|
|
|
|
18,722,425 |
|
|
|
|
|
|
Earnout shares
|
|
|
7,499,993 |
|
|
|
|
|
|
|
7,499,993 |
|
|
|
|
|
|
Debentures
|
|
|
2,922,425 |
|
|
|
|
|
|
|
2,922,425 |
|
|
|
|
|
|
Total
|
|
|
33,079,008 |
|
|
|
3,359,932 |
|
|
|
33,079,008 |
|
|
|
3,359,932 |
|
|
12. Earnings (Loss) Per Share
The following table is a calculation of the earnings (loss) per basic and diluted share:
|
|
|
December 31,
|
| |
|
2021
|
|
2020
|
|
Numerator
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(15,127,629 |
)
|
|
$
|
(7,194,038 |
)
|
|
Denominator
|
|
|
|
|
|
|
|
|
|
Weighted average shares used to compute basic EPS
|
|
|
678,406 |
|
|
|
678,400 |
|
|
Dilutive effect of stock-based awards
|
|
|
—
|
|
|
|
—
|
|
|
Weighted average shares used to compute diluted EPS
|
|
|
678,406 |
|
|
|
678,400 |
|
| |
|
|
|
|
|
|
|
|
|
Loss per share
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(22.30 |
)
|
|
$
|
(10.60 |
)
|
|
Diluted
|
|
$
|
(22.30 |
)
|
|
$
|
(10.60 |
)
|
Diluted earnings (loss) per share for 2021 and 2020 excludes 277,848 and 165,100 options to purchase common shares, respectively, along with the shares related to the contingently convertible debt, because their effect would be anti-dilutive.
|