Year Ended December 31,

2022

2021

2020

Net income for basic earnings per share

$

33,904,806

$

69,450,766

$

56,342,010

Less: Change in fair value of warrants

400,663

117,770

—

Net income, adjusted for change in fair value of warrants for diluted earnings per share

$

33,504,143

$

69,332,996

$

56,342,010

Weighted-average shares

72,929,550

75,322,194

79,259,000

Effect of potential common shares

616,951

1,080,522

178,306

Weighted-average shares: diluted

73,546,501

76,402,716

79,437,306

Earnings per share: basic

$

0.46

$

0.92

$

0.71

Earnings per share: diluted

$

0.46

$

0.91

$

0.71