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EARNINGS (LOSS) PER SHARE | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share represents net income (loss) attributable to stockholders divided by the weighted average number of common stock outstanding during the reported period. Treasury stock is excluded from the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. For diluted earnings (loss) per share, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if converted method, as applicable. The table below illustrates the reconciliation of the earnings or loss and number of shares used in our calculation of basic earnings or loss per share attributable to common stockholders:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net income (loss) | $ | 7,075,348 |  |  | $ | (5,284,811) |  |  | $ | 30,085,303 |  |  | $ | (5,908,533) |
Less: net (income) loss income attributable to noncontrolling interest | — |  |  | 159,756 |  |  | (786,683) |  |  | 204,716 |
Less: dividends declared on the series A convertible preferred stock | (93,750) |  |  | — |  |  | (187,500) |  |  | — |
Net income (loss) attributable to common stockholders for basic earnings (loss) per share | 6,981,598 |  |  | (5,125,055) |  |  | 29,111,120 |  |  | (5,703,817) |
Weighted average shares outstanding for basic earnings (loss) per share | 95,956,504 |  |  | 74,694,319 |  |  | 95,612,432 |  |  | 66,984,401 |
Basic earnings (loss) per share | $ | 0.07 |  |  | $ | (0.07) |  |  | $ | 0.30 |  |  | $ | (0.09) |
The table below illustrates the reconciliation of the earnings or loss and number of shares used in our calculation of diluted earnings or loss per share attributable to common stockholders:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net income (loss) attributable to common stockholders for basic earnings (loss) per share | $ | 6,981,598 |  |  | $ | (5,125,055) |  |  | $ | 29,111,120 |  |  | $ | (5,703,817) |
Numerator used to calculate diluted earnings (loss) per share | $ | 6,981,598 |  |  | $ | (5,125,055) |  |  | $ | 29,111,120 |  |  | $ | (5,703,817) |
Weighted average shares outstanding for basic earnings (loss) per share | 95,956,504 |  |  | 74,694,319 |  |  | 95,612,432 |  |  | 66,984,401 |
Effect of dilutive shares outstanding: |  |  |  |  |  |  |
RSUs | 195,407 |  | — |  | 989,572 |  | —
Series A preferred stock | 500,000 |  | — |  | 360,806 |  | —
Weighted average shares for diluted earnings (loss) per share | 96,651,911 |  | 74,694,319 |  | 96,962,810 |  | 66,984,401
Diluted earnings (loss) per share | $ | 0.07 |  |  | $ | (0.07) |  |  | $ | 0.30 |  |  | $ | (0.09) |

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