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EARNINGS PER SHARE | 12 Months Ended
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Dec. 31, 2022
EARNINGS PER SHARE |
EARNINGS PER SHARE | NOTE 15 – EARNINGS PER SHARE Basic net loss per share is computed by dividing net loss attributable to the Company, decreased with respect to net income or increased with respect to net loss by dividends declared on preferred stock by using the weighted-average number of common shares outstanding. The dilutive effect of incremental common shares potentially issuable under outstanding options, warrants and restricted shares is included in diluted earnings per share in 2022 and 2021 utilizing the treasury stock method. The computations of basic and diluted per share data were as follows:
|  | 2022 |  |  | 2021 |
Numerator for Basic and Diluted Earnings Per Share: |  |  |  |  |  |
Net loss |  | $ | (63,945,285 | ) |  | $ | (15,594,682 | )
Denominator for Basic Earnings Per Share: |  |  |  |  |  |  |  |
Weighted Average Shares |  |  | 1,928,172 |  |  |  | 656,933 |
Potentially Dilutive Common Shares |  |  | - |  |  |  | - |
Adjusted Weighted Average Shares |  |  | 1,928,172 |  |  |  | 656,933 |
Basic and Diluted Net Loss per Share |  |  | (33.16 | ) |  |  | (23.74 | )
The following table summarized the potential shares of common stock that were excluded from the computation of diluted net loss per share for the years ended December 31, 2022 and 2021 as such shares would have had an anti-dilutive effect:
|  | 2022 |  |  | 2021 |
Common Stock Warrants |  |  | 4,194,236 |  |  |  | 142,713 |
Common Stock Options |  |  | - |  |  |  | 1,480 |
Convertible Debt |  |  | 8,827 |  |  |  | 8,759 |
Total |  |  | 4,203,063 |  |  |  | 152,952 |

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