Three months ended December 31,

2019

2018

(Loss) earnings per share - basic

Net (loss) earnings available to common shareholders - basic

$

(5,475,160

)

$

1,245,902

Weighted average shares outstanding - basic

35,084,279

27,985,327

Basic (loss) earnings per common share

$

(0.16

)

$

0.04

(Loss) earnings per share - diluted

Net (loss) earnings available to common shareholders - basic

$

(5,475,160

)

$

1,245,902

Gain on derivatives (1)

(243

)

(723,879

)

Net (loss) earnings available to common shareholders - diluted

$

(5,474,403

)

$

522,023

Weighted average shares outstanding - basic

35,084,279

27,985,327

Incremental shares underlying dilutive - warrants and options (1)

14,329

1,944,026

Weighted average shares outstanding - diluted

35,098,608

29,929,353

Diluted (loss) earnings per common share

$

(0.16

)

$

0.02

(1) Includes Series LL warrants for the three months ended December 31, 2019 and Series GG, HH, II, JJ and KK warrants for the three months ended December 31, 2018.