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Note 9 - Basic and Diluted Earnings Per Common Share

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Basic and Diluted Earnings per Common Share:

The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computation (Dollar amounts in thousands of US dollars, except for share data):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
Numerator for basic and diluted earnings per common share:
Net loss for the period		$	(22,772	)		$	(7,981	)		$	(72,823	)		$	(14,126	)
Denominator for basic and diluted earnings per common share:
Basic weighted average number of common shares outstanding			10,874,659				10,779,348				10,852,079				10,766,657
Effect of outstanding stock options			-				-				-				-
Diluted weighted average number of shares outstanding			10,874,659				10,779,348				10,852,079				10,766,657
Basic loss per common share		$	(2.09	)		$	(0.74	)		$	(6.71	)		$	(1.31	)

For the three and nine months ended September 30, 2023 and September 30, 2022 the Company recorded a net loss, thus all outstanding options were considered anti-dilutive and excluded from the computation of diluted income per common share.  

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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