Earnings Per Share

6 Months Ended

Jun. 30, 2024

Basic earnings or loss per share is based on the weighted average of number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, the number of shares outstanding has been adjusted for the dilutive effects of warrants.


Basic earnings (loss) per share calculation	Three months ended				Six Months ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023

Net income (loss) available to common shareholders	$	(6,297,740)	$	(8,301,995)	$	(14,729,362)	$	(14,237,575)
Weighted average common shares outstanding (basic)	21,378,890		10,731,583		19,229,233		10,731,583
Basic earnings (loss) per share from net income	$	(0.29)	$	(0.77)	$	(0.77)	$	(1.33)

Diluted earnings (loss) per share calculation
Net income (loss) available to common shareholders	$	(6,297,740)	$	(8,301,995)	$	(14,729,362)	$	(14,237,575)
Weighted average common shares outstanding (basic)	21,378,890		10,731,583		19,229,233		10,731,583
Warrants	—		—		—		—
Weighted average common shares outstanding (diluted)	21,378,890		10,731,583		19,229,233		10,731,583
Diluted earnings (loss) per share from net income *	$	(0.29)	$	(0.77)	$	(0.77)	$	(1.33)

*In periods where the Company has incurred a net loss, diluted earnings per share is based on the number of common shares issued and outstanding as including the effects of warrants would be anti-dilutive.