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EARNINGS (LOSS) PER SHARE
 6 Months Ended
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:

 

   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 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:

 

           
   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