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Earnings per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Earnings per Share

Note 9 – Earnings per Share

 

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share for years ended December 31, 2023 and 2022:

 

   2023   2022 
   Years Ended December 31, 
   2023   2022 
Numerator          
Net loss, as reported  $(35,332,865)  $(14,238,249)
           
Denominator          
Weighted average shares, basic   29,346,599    31,479,028 
Dilutive effect of stock options, warrants and RSUs   -    - 
Shares used to compute diluted earnings per share   29,346,599    31,479,028 
           
Basic earnings per share  $(1.20)  $(0.45)
Diluted earnings per share  $(1.20)  $(0.45)

 

 

The computation of diluted earnings per share for the years ended December 31, 2023 and December 31, 2022 also excludes approximately 1.4 million shares of common stock and approximately 465,000 warrants to purchase shares of common stock that are contingent upon the achievement of certain milestones.

 

As a result of incurring a net loss for the years ended December 31, 2023 and 2022, respectively, no potentially dilutive securities are included in the calculation of diluted earnings per share because such effect would be anti-dilutive. The Company had potentially dilutive securities as of December 31, 2023, consisting of: (i) 2,618,362 restricted stock units and (ii) 512,112 options, and potentially dilutive securities as of December 31, 2022, consisting of: (i) 1,443,238 restricted stock units and (ii) 50,000 options.