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Earnings (Loss) Per Share (Tables)
3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Weighted Average Common Shares Outstanding

The net income (loss) available to common stockholders and weighted-average common shares outstanding are as follows:

 

 

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net income (loss)

 

$

50,448

 

 

$

(11,571

)

Accretion of financing fees

 

 

-

 

 

 

(144

)

Accrued dividends on Series C Preferred Stock

 

 

-

 

 

 

(4,237

)

Allocation of undistributed earnings to nonvested restricted shares

 

 

(1,838

)

 

 

-

 

Net income (loss) available to common stockholders - basic

 

$

48,610

 

 

$

(15,952

)

Undistributed earnings reallocated to nonvested restricted shares

 

 

1,838

 

 

 

-

 

Net income (loss) available to common stockholders - diluted

 

$

50,448

 

 

$

(15,952

)

Denominator:

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

17,854,876

 

 

 

17,128,417

 

Issuance of Warrants

 

 

13,794,257

 

 

 

12,451,765

 

Weighted average common shares outstanding - basic

 

 

31,649,133

 

 

 

29,580,182

 

Issuance of Fixed Warrants

 

 

1,636,313

 

 

 

-

 

Weighted average common shares outstanding - diluted

 

 

33,285,446

 

 

 

29,580,182