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

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2022, the Company had 21,718,500 stock options outstanding, and 4,063 outstanding shares of Series C Preferred Stock, each of which were not included in the computation of diluted income per common share because they would be anti-dilutive. The Company used the treasury stock method in calculating weighted average common shares diluted.

For the three months ended September 30, 2022, the Company had 24,868,500 stock options outstanding, and 4,063 outstanding shares of Series C 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 Company used the treasury stock method in calculating weighted average common shares diluted.

For the three and nine months ended September 30, 2021, the Company had 21,102,500 stock options outstanding, 7,065,000 warrants outstanding, 675 outstanding shares of Series B redeemable convertible preferred stock (Series B Preferred Stock), and 4,063 outstanding shares of Series C redeemable convertible preferred stock (Series C 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				9 Months Ended
	September 30,		September 30,		September 30,		September 30,
	2022		2021		2022		2021
Weighted average common shares outstanding - basic		514,789,680		494,635,990		509,587,202		469,627,961
Effects of dilutive shares
Stock Options		—		—		1,470,128		—
Weighted average common shares outstanding - diluted		514,789,680		494,635,990		511,057,330		469,627,961

The table below summarizes common stock equivalents outstanding at September 30, 2022 and 2021:

	September 30,
	2022		2021
Stock options		24,868,500		21,102,500
Warrants		—		7,065,000
Shares of Series B redeemable convertible preferred stock		—		337,500
Shares of Series C redeemable convertible preferred stock		40,630,000		40,630,000
		65,498,500		69,135,000