Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.20.2
Earnings Per Share
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings Per Share EARNINGS PER SHARE
Basic earnings per share is computed by dividing net loss available to common stockholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted earnings per share is 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, unvested restricted stock and warrants. The if converted method is used for determining the impact of the convertible notes.
The following table shows the computation of basic and diluted earnings per share:

Three Months Ended September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Net loss $ (84,130,722) $ (11,493,587) $ (210,705,940) $ (37,817,959)
Deemed dividends —  —  —  86,207 
Net loss attributable to common stockholders $ (84,130,722) $ (11,493,587) $ (210,705,940) $ (37,904,166)
Basic weighted average shares outstanding 107,406,000  66,176,921  83,611,526  63,566,295 
Dilutive effect of options and warrants —  —  —  — 
Dilutive effect of Convertible Note —  —  —  — 
Diluted weighted average shares outstanding 107,406,000  66,176,921  83,611,526  63,566,295 
Anti-dilutive options and warrants excluded from diluted average shares outstanding 5,948,219  32,917,619  5,948,219  32,917,619 

Excluded from the table above are the warrant shares related to the Convertible Note, which represent 6.1 million and 13.3 million warrants calculated using the if converted method for the three and nine months ended September 30, 2020, respectively.

Also excluded from the table above are the shares on the conversion of the Convertible Note, which represent 1.0 million and 4.8 million shares of common stock calculated using the if converted method for the three and nine months ended September 30, 2020, respectively. The Convertible Note is convertible into shares of the Company's common stock.