Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:


	Three Months Ended
	March 31, 2023		March 31, 2022
Net income (loss)	$	16,600,534	$	(8,230,229	)
Numerator, basic and diluted net loss available to stockholders	$	16,600,534	$	(8,230,229	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding		19,666,459		14,365,633
Shares used in computation – diluted:
Weighted average common shares outstanding		19,892,079		14,365,633
Net loss per share – basic	$	0.84	$	(0.57	)
Net loss per share – diluted	$	0.83	$	(0.57	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares in the following tables represent potential common shares calculated using the if-converted method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:


	Three Months Ended
	March 31, 2023		March 31, 2022
Average market price during the period	$	3.21	$	5.91
In the money potential common shares from options excluded		—		22,493
In the money potential common shares from warrants excluded		—		2,752,951

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS:


	Three Months Ended
Per share exercise price	March 31, 2023	March 31, 2022
Out of the money options excluded:
$3.42	3,091	—
$3.43	17,105	—
$3.59	7,521	—
$3.60	604,243	—
$12.48	136,833	136,833
$12.84	4,167	4,167
$26.40	75,158	75,158
Out-of-the-money warrants excluded:
$3.35	4,939,515	—
$3.78	3,465,778	—
$3.99	551,378	—
$4.67	131,816	—
$4.75	1,873,622	—
$5.76	196,135	—
$7.16	700,000	700,000
Total excluded	12,706,362	916,158

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:


	Three Months Ended
	March 31, 2023		March 31, 2022
Excluded unvested restricted stock awards		—		276,709