Basic earnings per share, which excludes dilution, is computed by dividing net income or loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The number of incremental shares from the assumed issuance of shares relating to share-based awards is calculated by applying the treasury stock method.

The following table shows the computation of basic and diluted earnings per share for the three months ended June 30, 2023 and 2022:


	Three Months Ended June 30, 2023			Three Months Ended June 30, 2022
Numerator:
Net income (loss)	$	(7,471,022	)	$	(6,765,657	)
Denominator:
Weighted average common shares outstanding - Basic		56,857,629			51,505,095
Dilutive effect of stock options and warrants		—			—

Weighted average common shares outstanding - Diluted		56,857,629			51,505,095

Basic loss per share	$	(0.13	)	$	(0.13	)
Diluted loss per share	$	(0.13	)	$	(0.13	)

The following table shows the computation of basic and diluted earnings per share for the six months ended June 30, 2023 and 2022:


	Six Months Ended Jun 30, 2023			Six Months Ended Jun 30, 2022
Numerator:
Net loss	$	(13,542,728	)	$	(11,545,158	)
Denominator:
Weighted average common shares outstanding - Basic		55,680,815			51,373,939
Dilutive effect of stock options and warrants		—			—

Weighted average common shares outstanding - Diluted		55,680,815			51,373,939

Basic loss per share	$	(0.24	)	$	(0.22	)
Diluted loss per share	$	(0.24	)	$	(0.22	)

There were 12,376,020 warrants, 470,668 options, and 4,772,923 RSUs outstanding at June 30, 2023 and 21,330,626 warrants, 870,668 options and 2,172,500 RSUs outstanding at June 31, 2022 that were excluded from the calculation of diluted EPS. The Company excluded the warrants, options and RSUs from the calculation of diluted EPS for the three and six months ended June 30, 2023 and 2022, as inclusion would have an anti-dilutive effect.