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Note 2 - Loss Per Share

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Loss per share

Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period, in addition to restricted stock units ("RSUs") and restricted common stock that are vested but not delivered. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock are exercised or converted into common stock and is calculated using the treasury stock method for stock options, restricted stock units, restricted stock, warrants and deferred common stock. Common equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive.

For the three and six months ended June 30, 2022 and 2021, basic and diluted loss per share was as follows:

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Numerator:
Net loss		$	(56,944	)		$	(5,179	)		$	(58,957	)		$	(11,437	)
Denominator:
Weighted average shares outstanding			79,793,240				78,270,386				79,479,049				77,574,295
Weighted average restricted shares vested not delivered			1,700,581				1,691,889				1,714,058				1,986,348
Total basic weighted average shares outstanding			81,493,821				79,962,275				81,193,107				79,560,643
Dilutive effect of assumed conversion of restricted stock units			—				—				—				—
Total diluted weighted average shares outstanding			81,493,821				79,962,275				81,193,107				79,560,643
Basic and diluted loss per share:
Basic		$	(0.70	)		$	(0.06	)		$	(0.73	)		$	(0.14	)
Diluted		$	(0.70	)		$	(0.06	)		$	(0.73	)		$	(0.14	)

Based upon the exercise price and the average stock price for the three and six months ended June 30, 2022 and 2021, respectively, certain stock equivalents, including stock options and warrants, have been excluded from diluted weighted average share calculations due to their anti-dilutive nature.

		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
Restricted stock units			1,875,000				2,843,570				1,875,000				2,843,570
Stock options			2,139,000				2,204,000				2,139,000				2,204,000
Warrants			—				833,333				—				833,333
Total anti-dilutive securities			4,014,000				5,880,903				4,014,000				5,880,903

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- References

No definition available.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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