Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER SHARE INFORMATION

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EARNINGS (LOSS) PER SHARE INFORMATION
12 Months Ended
Dec. 31, 2021
EARNINGS (LOSS) PER SHARE INFORMATION  
EARNINGS (LOSS) PER SHARE INFORMATION

NOTE 4 – EARNINGS (LOSS) PER SHARE INFORMATION

    

For the years ended December 31, 

    

2021

    

2020

    

2019

Net Income (Loss)

$

3,322,892

$

(253,411,828)

$

29,496,551

Basic Weighted-Average Shares Outstanding

 

99,387,028

 

72,891,310

 

66,571,738

Effect of dilutive securities:

 

 

  

 

  

Stock options

 

75,897

 

 

174,944

Restricted stock

 

1,613,810

 

 

10,346

Common warrants

20,116,440

Diluted Weighted-Average Shares Outstanding

 

121,193,175

 

72,891,310

 

66,757,028

Basic Earnings (Loss) per Share

$

0.03

$

(3.48)

$

0.44

Diluted Earnings (Loss) per Share

$

0.03

$

(3.48)

$

0.44

Stock options to purchase 113,659, 465,500, and 2,353,500 shares of common stock were excluded from the computation of diluted earnings per share during the years ended December 31, 2021, 2020 and 2019, respectively, as their effect would have been anti-dilutive. Also excluded from the computation of diluted earnings per share were 114,880  (including 94,270 shares related to the performance stock units further described in Note 13), 2,144,617, and 704,684 shares of unvested restricted stock during the year ended December 31, 2021, 2020 and 2019, 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 for the year ended December 31, 2020 as they were exercisable for a nominal amount and so were treated as if they were exercised at issuance. These shares were exercised in January 2021 and have also been included in the beginning shares outstanding for the calculation of Basic Weighted-Average Shares Outstanding for the year ended December 31, 2021.