Earning (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Computation of Earnings (Loss) Per Basic and Diluted Share

The following table is the basic and diluted earnings (loss) per share computation. For all periods presented, weighted average shares and earnings (loss) per share reflect the effects of the Reverse Stock Split.


	Three months ended June 30,				Six months ended June 30,
	2024		2023		2024		2023
	(As Restated)				(As Restated)
Numerator:
Net income (loss) for basic earnings per share	$	4,540,975	$	20,673,440	$	(68,297,961)	$	6,534,775
Adjustments to net income (loss) available to shareholders
Change in fair value of SPA warrant liabilities	(4,441,987)		-		-		-
New convertible debentures interest and change in fair value	(7,454,365)		1,129,509		-		-
Convertible secured term loans interest and amortization	1,326,657		-		-		-
Adjusted net income (loss) for diluted earnings per share	$	(6,028,720)	$	21,802,949	$	(68,297,961)	$	6,534,775

Denominator:
Weighted average shares used to compute basic EPS	1,950,563		1,110,091		1,667,187		1,107,580
Dilutive effect of:
Stock options	-		10,561		-		5,281
Restricted and performance stock units	17,786		29,984		-		14,992
SPA Warrants	144,759		-		-		-
Convertible debt	3,251,287		81,178		-		-
Weighted average shares used to compute diluted EPS	5,364,395		1,231,814		1,667,187		1,127,853

Basic earnings (loss) per share	$	2.33	$	18.62	$	(40.97)	$	5.90
Diluted earnings (loss) per share	$	(1.12)	$	17.70	$	(40.97)	$	5.79

Anti-dilutive securities excluded from shares outstanding:
Stock options	50,736		21,230		50,736		21,230
Restricted and performance stock units	165,796		41,114		165,796		41,114
Warrants	438,889		520,067		583,648		520,067
Earnout shares	208,333		208,333		208,333		208,333
Convertible debt	-		-		3,251,287		81,178
Total	863,754		790,744		4,259,800		871,922