Net income (loss) per share

9 Months Ended

Sep. 30, 2022

Net income (loss) per share

Note 18 Net income (loss) per share

Note 18 Net income (loss) per share

Basic income (loss) per share available to common stockholders is calculated using the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share available to common stockholders is calculated using the weighted average number of common shares outstanding plus the number of dilutive potential common shares outstanding during the applicable period. Dilutive potential common shares consist of the incremental common shares (i) issuable upon the vesting of outstanding restricted stock units and the exercise of outstanding stock options using the treasury stock method, (ii) contingently issuable assuming that the end of the reporting period is the end of the contingency period, and (iii) issuable for non-participating preferred stock using the if-converted method. Our warrants and some of our preferred stock are considered participating securities pursuant to the two-class method. Dilutive potential common shares are excluded from the calculation of diluted net income (loss) per share available to common stockholders if their effect is antidilutive.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Numerator:
Income (loss) available to common stockholders	$	14,071,914		$	(25,229,590	)	$	(56,027,370	)	$	(36,893,674	)
Less: Undistributed earnings allocated to participating securities		(2,630,305	)		-			-			-
Numerator, basic		11,441,609			(25,229,590	)		(56,027,370	)		(36,893,674	)
Effect of dilutive securities
Plus: Preferred stock dividends		295,819			-			-			-
Plus: Undistributed earnings allocated to participating securities		2,630,305			-			-			-
Less: Undistributed earnings re-allocated to participating securities		(2,392,897	)		-			-			-
Numerator, diluted	$	11,974,836		$	(25,229,590	)	$	(56,027,370	)	$	(36,893,674	)
Denominator:
Weighted average number of shares outstanding, basic		206,224,561			152,222,589			196,126,428			150,397,062
Effect of dilutive securities:
Restricted stock units		77,088			-			-			-
Contingently issuable shares		1,769,884			-			-			-
Stock options		16,953,621			-			-			-
Preferred stock		6,363,233			-			-			-
Weighted average number of shares outstanding, diluted		231,388,387			152,222,589			196,126,428			150,397,062
Basic income (loss) per share available to common stockholders	$	0.06		$	(0.17	)	$	(0.29	)	$	(0.25	)
Diluted income (loss) per share available to common stockholders	$	0.05		$	(0.17	)	$	(0.29	)	$	(0.25	)

The following potential common shares were excluded from the calculation of diluted net income (loss) per share available to common stockholders because their effect would have been antidilutive:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Restricted stock units		-		36,836		154,410		12,324
Contingently issuable shares		-		-		1,685,294		-
Warrants		-		21,714,402		16,878,277		20,765,652
Stock options		25,122,445		38,699,396		48,905,800		32,417,096
Preferred stock		-		2,395,105		16,950,976		1,162,330
Convertible notes payable		-		51,551,453		33,249,524		41,404,494
Total		25,122,445		114,397,192		117,824,281		95,761,896