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Note 9 - Earnings Per Share
 6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 9 - EARNINGS PER SHARE

 

Basic and diluted net income (loss) per common share is determined by dividing net income (loss) by the weighted average number of shares of Common Stock outstanding during the period. For the periods where there is a net loss, stock options, warrants and Restricted Stock Units (“RSUs”) have been excluded from the calculation of diluted net loss per common share because their effect would be anti-dilutive. Consequently, the weighted average number of shares of Common Stock used to calculate both basic and diluted net loss per common share is the same for the reported periods.

 

For the period ended June 30, 2022, the Company had 2,587,009 RSUs outstanding, 31,440,000 prefunded warrants and 4,480,000 warrants, both exercisable for shares of Common Stock outstanding.

 

The following table shows the amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive Common Stock for the three and six months ended June 30, 2022, and 2021:

 

  

For the Three Months

  

For the Six Months

 
  

Ended June 30,

  

Ended June 30,

 
  

2022

  

2021

  

2022

  

2021

 

Net (Loss)

  (6,507,059

)

  (3,098,108

)

  (10,253,483

)

  (5,557,537

)

Weighted average number of common shares used in basic earnings per share

  32,097,495   21,769,461   26,753,663   21,723,578 

Effect of dilutive securities, stock options, RSUs, and warrants

  -   -   -   - 

Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share

  32,097,495   21,769,461   26,753,663   21,723,578 

 

For the three and six months ended June 30, 2022 and 2021 respectively, the Company had no options outstanding.