LOSS PER SHARE

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

LOSS PER SHARE

LOSS PER SHARE

The Company computes loss per share of common shares. Basic net loss per common share is computed by dividing the net loss by the weighted-average number of common shares outstanding. Diluted loss per common share is computed by dividing the net loss by the weighted-average number of common shares together with the number of additional common shares that would have been outstanding if all potentially dilutive common shares had been issued, unless anti-dilutive.

The following table sets forth the computation of basic and dilutive net loss per share attributable to common shareholders:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net loss	$	(5,787)	$	(15,143)	$	(26,478)	$	(15,211)
Weighted-average number of common shares - basic	157,495,042		153,094,229		156,921,955		152,632,806
Dilutive effect of securities	—		—		—		—
Weighted-average number of common shares - diluted	157,495,042		153,094,229		156,921,955		152,632,806
Loss per common share – basic	$	(0.04)	$	(0.10)	$	(0.17)	$	(0.10)
Loss per common share – diluted	$	(0.04)	$	(0.10)	$	(0.17)	$	(0.10)

As of September 30, 2024 and September 30, 2023, potentially dilutive securities include stock options, restricted share units, and convertible debenture conversion. When the Company recognizes a net loss from continuing operations, all potentially dilutive shares are

anti-dilutive and are consequently excluded from the calculation of diluted net loss per share. The potentially dilutive awards outstanding for each period are presented in the table below:

	Three and Nine Months Ended September 30,
	2024	2023
Outstanding options	3,742,095	6,535,407
Outstanding restricted share units	4,956,167	3,559,769
Total	8,698,262	10,095,176

The Company's debenture is convertible into 19.9% ownership of the Company’s common shares at a conversion price of C$2.00 per common share of the Company. The Company can settle the convertible debenture in shares. If the convertible debenture in diluted EPS is anti-dilutive, or if the conversion value of the debenture does not exceed their conversion price for a reporting period, then the shares underlying the notes will not be reflected in the Company’s calculation of diluted EPS. For the three and nine months ended September 30, 2024 and September 30, 2023, the price of the Company’s shares did not exceed the conversion price and therefore there was no impact to diluted EPS during those periods.