BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2024

BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE

Basic and diluted net income (loss) per Common Share

The calculation of basic net income (loss) per common share and diluted net income (loss) per common share after adjustment for the effects of all potential dilutive Common Shares is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income (loss) attributable to owners of the Company	$	(6,418)	$	(4,861)	$	(2,779)	$	109,404

Basic weighted average common shares outstanding	163,655,888		158,137,420		163,533,507		158,034,370
Dilutive impact of stock options and restricted stock units	—		—		—		1,156,936
Diluted weighted average common shares outstanding	163,655,888		158,137,420		163,533,507		159,191,306

Basic net income (loss) per common share	$	(0.04)	$	(0.03)	$	(0.02)	$	0.69
Diluted net income (loss) per common share	$	(0.04)	$	(0.03)	$	(0.02)	$	0.69

For the three months ended June 30, 2024 and 2023, a weighted average of 1.67 million and 1.50 million, respectively, stock options and restricted stock units (“RSUs”) have been excluded from the calculation of diluted net income per common share, as their effect would have been anti-dilutive. For the six months ended June 30, 2024 and 2023 a weighted average of 1.58 million and 0.31 million respectively, stock options and restricted stock units (“RSUs”) have been excluded from the

calculation of diluted net income per common share, as their effect would have been anti-dilutive. In addition, the Company excluded stock appreciation rights (“SARs”) of 1.02 million and 2.30 million, respectively, for the three months ended June 30, 2024 and 2023, as well as 1.02 million and 2.31 million, respectively, for the six months ended June 30, 2024 and 2023 as they are contingently issuable based on specified market prices of the Company’s Common Shares, which were not achieved as of the end of each period.