13. Earnings Per Share

Basic earnings or loss per share shown on the Consolidated Statements of Operations is computed on the basis of the weighted average number of common shares outstanding during the periods. Diluted earnings or loss per share is computed based upon the weighted average number of common shares outstanding plus the assumed issuance of common shares for all potentially dilutive securities to include warrants, equity compensation awards, and preferred equity shares under the as-converted method. The Company includes the number of stock options in the calculation of diluted weighted average shares outstanding when the grant date or exercise prices are less than the average market prices of the Company’s Class A common stock for the period. When a loss from operations exists, all potentially dilutive common shares outstanding are anti-dilutive and therefore excluded from the calculation of diluted weighted average shares outstanding. There is no dilutive effect for the years ended December 31, 2017 and 2016 as the Company reported a loss from operations for those periods.

The following table presents unaudited earnings per share of Lonestar Resources US Inc., assuming that the 1-for-2 reverse stock split upon Reorganization had occurred at the beginning of the year ended December 31, 2016:

	Year Ended December 31,
	2017			2016
Net loss per share of Class A voting common stock:
Basic	$	(2.13	)	$	(12.17	)
Diluted		(2.13	)		(12.17	)

Weighted average Class A voting common stock outstanding:
Basic		22,252,149			8,106,931
Diluted		22,252,149			8,106,931