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Basic and Diluted Net Loss Per Share
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
BASIC AND DILUTED NET LOSS PER SHARE

NOTE 3 – BASIC AND DILUTED NET LOSS PER SHARE

 

Net loss per common share is calculated in accordance with ASC Topic 260: Earnings Per Share (“ASC 260”). Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. The computation of diluted net loss per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive.

 

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share as at June 30, 2022 and 2021 are as follows:

 

   As at June 30, 
   2022   2021 
Warrants to purchase common stock   6,391,667    1,698,727 
Options to purchase common stock   29,459    - 
Mandatory convertible notes to exchange common stock   
-
    6,362,690 
Restricted Stock-Units (“RSUs”) issued under a management equity plan   2,449,725    4,000,000 
    8,870,851    12,061,417 

 

The following table sets forth the computation of basic and diluted loss per share:

 

   For the three months ended
June 30,		   For the six months ended
June 30,		 
   2022   2021   2022   2021 
Net Loss attributable to common shareholders  $(2,117,403)  $(6,239,923)  $(13,453,059)  $(44,803,128)
                     
Denominator:                    
Weighted average common shares - basic and diluted
   71,598,552    50,264,283    71,790,772    47,298,702 
                     
Loss per common share - basic and diluted
  $(0.03)  $(0.12)  $(0.19)  $(0.95)

 

Comparative weighted average common shares have been revised by the ratio of Mawson AU to the Company shares exchanged in the reverse asset acquisition in March 2021. Pursuant to that certain Certificate of Amendment to the Certificate of Incorporation of the Company dated August 11, 2021, Mawson executed a 10-for-1 reverse stock split of its outstanding common stock and reduced its authorized common stock to 120,000,000 shares, as set forth in the Company’s Current Report on Form 8-K filed August 16, 2021.