Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.3
Earnings Per Share
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings Per Share
9. EARNINGS PER SHARE
Basic loss per share is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted earnings per share are calculated using the treasury stock method, on the basis of the weighted average number of shares outstanding plus the dilutive effect, if any, of stock options and warrants. For all periods presented, due to the Company’s net losses, all of the common stock equivalents were anti-dilutive and excluded from the calculation of diluted loss per share.
The following table shows the computation of basic and diluted earnings per share:
Three Months Ended September 30, Nine Months Ended September 30,
2019 2018 2019 2018
Net loss $ (11,493,587)   $ (5,485,553)   $ (37,817,959)   $ (18,812,656)  
Deemed dividends —    —    86,207    765,179   
Net loss attributable to common shareholders $ (11,493,587)   $ (5,485,553)   $ (37,904,166)   $ (19,577,835)  
Basic weighted average shares outstanding 66,176,921    46,192,471    63,566,295    46,192,471   
Dilutive effect of options and warrants —    —    —    —   
Diluted weighted average shares outstanding 66,176,921    46,192,471    63,566,295    46,192,471   
Anti-dilutive options and warrants excluded from diluted average shares outstanding 32,917,619    4,558,927    32,917,619    4,558,927