Earnings per share

6 Months Ended

Jun. 30, 2023

Basic and diluted earnings per common share are computed by dividing net income/(loss) for the period by the weighted average number of shares outstanding during the period.

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022				2023			2022
Net loss	$	(31,410,026	)	$	(107,221,565	)	$	(57,182,008	)	$	(117,231,573	)
Weighted-average shares outstanding - basic and diluted		275,632,354			248,989,790			275,563,187			234,574,977
Net loss per share basic and diluted	$	(0.11	)	$	(0.43	)	$	(0.21	)	$	(0.50	)

For the three months ended June 30, 2023 and 2022, the basic and diluted weighted-average shares outstanding included penny warrants not yet exercised of 6,600,000 and 6,400,000, respectively. For the six months ended June 30, 2023 and 2022, the basic and diluted weighted-average shares outstanding included penny warrants not yet exercised of 6,600,000 and 6,400,000 respectively.

The following table presents the number of shares excluded from the calculation of diluted net loss per share as their effect would have been anti-dilutive:

	June 30,
	2023	2022
Unvested restricted stock units	1,133,095	427,235
Penny warrants subject to unmet contingencies	13,972,536	11,450,000
Warrants "out of the money"	42,750,000	42,750,000
Total	57,855,631	54,627,235