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Net Loss Per Share
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Earnings Per Share [Abstract]    
Net Loss Per Share

Note 13. Net (Loss) Income Per Share

 

The following is a reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share for the three and six months ended June 30, 2021, and 2020:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2021   2020   2021   2020 
Numerator:                
Net (loss) income - basic  $(10,469)  $(13,499)  $51,445   $(19,953)
Reverse: change in fair value of warrant liabilities   -    -    (74,731)   - 
Net loss - diluted  $(10,469)  $(13,499)  $(23,286)  $(19,953)
                     
Denominator:                    
Weighted average shares outstanding, basic   139,237,805    82,990,664    137,416,593    82,577,953 
                     
Dilutive effect of warrants   -    -    181,942    - 
                     
Weighted average shares outstanding, diluted   139,237,805    82,990,664    137,598,535    82,577,953 
                     
Net (loss) income per share, basic  $(0.08)  $(0.16)  $0.37   $(0.24)
                     
Net loss per share, diluted  $(0.08)  $(0.16)  $(0.17)  $(0.24)

 

Potential dilutive securities, which include stock options, warrants and restricted stock units have been excluded from the computation of diluted net loss per share for the three and six months ended June 30, 2020 as the effect would be to reduce the net loss per share. Therefore, for this period the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same.

 

The number of shares underlying outstanding dilutive securities:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2021   2020   2021   2020 
                 
Stock options   11,399,635    11,584,747    11,399,635    11,584,747 
Private Warrants   4,233,333    -    -    - 
XL Legacy Warrants   6,117    2,507,338    6,117    2,507,338 
Restricted stock units   322,225    -    322,225    - 
Total   15,961,310    14,092,085    11,727,977    14,092,085 

Note 19. Net Loss Per Share

 

The following is a reconciliation of the numerator and denominator used to calculate basic earnings per share and diluted earnings per share for the years ended December 31, 2020, and 2019:

 

   2020   2019 
Numerator:        
Net loss  $(60,606)  $(14,901)
           
Denominator:          
Weighted average shares outstanding, basic and diluted   84,565,448    79,823,065 
           
Net loss per share, basic and diluted  $(0.72)  $(0.19)

 

The Company’s contingently convertible notes payable did not meet the condition to be converted to Common Stock as of December 31, 2020 and 2019. Additionally, the Company’s contingently issuable unvested restricted stock did not meet the performance based vesting condition as of December 31, 2020 and 2019.

 

Potential dilutive securities, which include stock options, convertible preferred stock and warrants have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share is the same.

 

The number of shares underlying outstanding stock options and warrants:

 

   2020   2019 
         
Stock options   10,975,222    10,087,294 
Warrants   12,149,117    5,849,164 
Total   23,124,339    15,936,458