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EARNINGS (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | NOTE 7. EARNINGS (LOSS) PER SHARE Basic EPS applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted-average number of common shares outstanding. If there is a loss from operations, diluted EPS is computed in the same manner as basic EPS is computed. Similarly, if the Company has net income but its preferred dividend adjustment made in computing income available to common stockholders results in a net loss available to common stockholders, diluted EPS would be computed in the same manner as basic EPS. The following calculates basic and diluted EPS: SCHEDULE OF CALCULATIONS OF BASIC AND DILUTED EPS
|  | Three Months |  |  | Three Months |
|  | Ended |  |  | Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Net income (loss), numerator, basic and diluted computation |  | $ | 10,495,691 |  |  | $ | (1,276,886 | )
Weighted average shares - denominator basic computation |  |  | 1,069,157 |  |  |  | 728,966 |
Effect of stock awards |  |  | 2,128 |  |  |  | - |
Effect of Series B warrant liability |  |  |  |  |  |  |  |
Effect of preferred stock |  |  | 147,939 |  |  |  | - |
Weighted average shares, as adjusted - denominator diluted computation |  |  | 1,219,224 |  |  |  | 728,966 |
Earnings (loss) per common share – basic |  | $ | 9.82 |  |  | $ | (1.75 | )
Earnings (loss) per common share – diluted |  |  | 8.61 |  |  |  | (1.75 | )
|  | Six Months |  |  | Six Months |
|  | Ended |  |  | Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Net income (loss) |  | $ | 19,835,692 |  |  | $ | (1,890,812 | )
Deemed dividend |  |  | (6,930,335 | ) |  |  | - |
Net income (loss), numerator, basic computation |  |  | 12,905,357 |  |  |  | (1,890,812 | )
Recognition and change in fair value of warrant liability |  |  | (26,625,915 | ) |  |  | - |
Net income (loss), numerator, diluted computation |  | $ | (13,720,558 | ) |  | $ | (1,890,812 | )
Weighted average shares - denominator basic computation |  |  | 1,025,108 |  |  |  | 617,316 |
Effect of Series B warrant liability |  |  | 43,128 |  |  |  | - |
Weighted average shares, as adjusted - denominator diluted computation |  |  | 1,068,236 |  |  |  | 617,316 |
Earnings (loss) per common share - basic |  | $ | 12.59 |  |  | $ | (3.06 | )
Earnings (loss) per common share - diluted |  | $ | (12.84 | ) |  | $ | (3.06 | )
Additionally, the following are considered anti-dilutive securities excluded from weighted-average shares used to calculate diluted net loss per common share: SCHEDULE OF ANTI-DILUTIVE SECURITIES IN WEIGHTED AVERAGE SHARES
|  | For the Three Months Ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Shares subject to outstanding common stock options |  |  | 10,928 |  |  |  | 10,928 |
Shares subject to outstanding Series A warrants |  |  | 113,000 |  |  |  | 138,000 |
Shares subject to unvested stock awards |  |  | - |  |  |  | 3,072 |
Shares subject to warrant liability |  |  | 668,299 |  |  |  | - |
|  | For the six months ended |
|  | June 30, 2022 |  |  | June 30, 2021 |
Shares subject to outstanding common stock options |  |  | 10,928 |  |  |  | 10,928 |
Shares subject to outstanding Series A warrants |  |  | 113,000 |  |  |  | 138,000 |
Shares subject to conversion of Series B preferred stock |  |  | 147,939 |  |  |  | - |
Shares subject to unvested stock awards |  |  | 4,621 |  |  |  | 3,072 |
Weighted-average anti-dilutive securities |  |  | 4,621 |  |  |  | 3,072 |

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