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Note 9 - Basic and Diluted Earnings (Loss) Per Common Share

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Basic and Diluted Earnings (Loss) 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 June 30,								Six Months Ended June 30,
		2024				2023				2024				2023

Numerator for basic and diluted loss per common share:
Net loss for the period		$	(18,604	)		$	(30,968	)		$	(45,088	)		$	(50,051	)

Denominator for basic and diluted loss per common share:
Basic weighted average number of common shares outstanding			10,954,596				10,836,652				10,939,098				10,821,608
Effect of outstanding stock options			-				-				-				-
Diluted weighted average number of shares outstanding			10,954,596				10,836,652				10,939,098				10,821,608

Basic and diluted loss per common share		$	(1.70	)		$	(2.86	)		$	(4.12	)		$	(4.63	)

For the three and six months ended June 30, 2024 and June 30, 2023, 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.