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PER-SHARE INFORMATION
 6 Months Ended
Jun. 30, 2026
Earnings per Share  
PER-SHARE INFORMATION

NOTE 8 – PER-SHARE INFORMATION

 

Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of Common Shares outstanding during the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of dilutive Common Shares outstanding during the period. The Company’s potential dilutive Common Shares include stock options and warrants that are in the money or were pre-funded. The Company uses the treasury stock method to compute the dilutive shares related to in-the-money stock options and warrants, to be included in the dilutive earning per share, when the effect is not anti-dilutive.

 

A reconciliation of the numerator and denominator used in the calculation of basic and diluted earnings (loss) per share is set forth below (In thousands, except for share):

 

 

 

For the Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

Basic earnings per share:

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net income (loss)

 

$(18,907)

 

$677

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding - basic

 

 

80,896,554

 

 

 

6,062,773

 

Effect of dilutive share-based rewards

 

 

-

 

 

 

—

 

Weighted-average number of common shares outstanding - diluted

 

 

80,896,554

 

 

 

6,062,773

 

Basic earnings (loss) per common share

 

$(0.23)

 

$0.11

 

Diluted earnings (loss) per common share

 

$(0.23)

 

$0.11

 

 

 

 

For the Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

Basic earnings per share:

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net income (loss)

 

$(89,855)

 

$1,130

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average number of common shares outstanding - basic

 

 

80,896,554

 

 

 

6,190,941

 

Effect of dilutive share-based rewards

 

 

-

 

 

 

—

 

Weighted-average number of common shares outstanding - diluted

 

 

80,896,554

 

 

 

6,190,941

 

Basic earnings (loss) per common share

 

$(1.11)

 

$0.18

 

Diluted earnings (loss) per common share

 

$(1.11)

 

$0.18

 

 

For the six months ended June 30, 2026, the following instruments were excluded from the computation of the dilutive earnings per share.

 

Options*

 

 

537,500

 

Warrants*

 

 

11,211,959

 

 

*Options and Warrants were out-of-money for the period six months ended June 30, 2026