Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER SHARE INFORMATION

v3.20.4
EARNINGS (LOSS) PER SHARE INFORMATION
12 Months Ended
Dec. 31, 2020
EARNINGS (LOSS) PER SHARE INFORMATION  
EARNINGS (LOSS) PER SHARE INFORMATION

NOTE 4 – EARNINGS (LOSS) PER SHARE INFORMATION

For the years ended December 31, 

    

2020

    

2019

    

2018

Net Income (Loss)

$

(253,411,828)

$

29,496,551

$

8,999,760

Basic Weighted-Average Shares Outstanding

 

72,891,310

 

66,571,738

 

59,531,200

Effect of dilutive securities:

 

  

 

  

 

  

Stock options

 

 

174,944

 

1,238,786

Restricted stock

 

 

10,346

 

78,191

Common warrants

Diluted Weighted-Average Shares Outstanding

 

72,891,310

 

66,757,028

 

60,848,177

Basic Earnings (Loss) per Share

$

(3.48)

$

0.44

$

0.15

Diluted Earnings (Loss) per Share

$

(3.48)

$

0.44

$

0.15

Stock options to purchase 465,500, 2,353,500 and 574,500 shares of common stock were excluded from the computation of diluted earnings per share during the years ended December 31, 2020, 2019 and 2018, respectively, as their effect would have been anti-dilutive. 2,144,617, 704,684 and 2,500 shares of unvested restricted stock were excluded from the computation of diluted earnings per share during the years ended December 31, 2020, 2019 and 2018, respectively, as their effect would have been anti-dilutive. Common warrants to purchase 29,804,300 shares of common stock were excluded from the computation of diluted earnings per share during the year ended December 31, 2020, as their effect would have been anti-dilutive.

Pre-funded warrants to purchase 13,428,500 shares of common stock were included in the calculation of the Basic Weighted-Average Shares Outstanding as they are exercisable for a nominal amount and so are treated as if they were exercised at issuance.