Net Income (Loss) Per Common Share - Basic and Diluted

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share - Basic and Diluted

(3)       Net Income (Loss) Per Common Share - Basic and Diluted

For the three months ended March 31, 2022, the Company had 26,567,500 stock options outstanding, 2,925,000 warrants outstanding, 4,063 outstanding shares of Series C redeemable convertible preferred stock (Series C Preferred Stock), and 675 outstanding shares of Series B redeemable convertible preferred stock (Series B Preferred Stock), each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive.

For the three months ended March 31, 2021, the Company had 18,252,500 stock options outstanding, 7,065,000 warrants outstanding, 4,188 outstanding shares of Series C redeemable convertible preferred stock (Series C Preferred Stock), and 850 outstanding shares of Series B redeemable convertible preferred stock (Series B Preferred Stock), each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive.

The table below shows the calculation of diluted shares:

	3 Months Ended
	March 31		March 31
	2022		2021
Weighted average common shares outstanding - basic		503,472,428		453,449,720
Effects of dilutive shares
Stock Options		6,295,654		—
Warrants		—		—
Series B redeemable convertible preferred stock		—		—
Series C redeemable convertible preferred stock		—		—
Weighted average common shares outstanding - diluted		509,768,082		453,449,720

The table below summarizes common stock equivalents outstanding at March 31, 2022 and 2021:

	March 31,
	2022		2021
Stock options		26,567,500		18,252,500
Warrants		2,925,000		7,065,000
Shares of Series B redeemable convertible preferred stock		337,500		425,000
Shares of Series C redeemable convertible preferred stock		40,630,000		41,880,000
		70,460,000		67,622,500