Quarterly report pursuant to Section 13 or 15(d)

LOSS PER COMMON SHARE

v3.21.2
LOSS PER COMMON SHARE
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
LOSS PER COMMON SHARE

NOTE 8 – LOSS PER COMMON SHARE

 

The basic net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the weighted average number of common shares during the year. The diluted net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the diluted weighted average number of common shares outstanding during the year. The diluted weighted average number of common shares outstanding is the basic weighted number of common shares adjusted for any potentially dilutive debt or equity. Common shares consisting of common stock warrants, stock options and restricted stock units totaling 13,641,017 shares as of September 30, 2021, and Series A and Series B preferred stock of 1,191,388 and 1,105,827, respectively, convertible into 5,743,175 shares of common stock as of September 30, 2021, and any potential shares issuable under the anti-dilution warrants discussed above were excluded from the calculation of diluted net loss per share due to their antidilutive effect. There were no dilutive instruments outstanding as of September 30, 2020. 

                               
    Three months     Three months     Nine months     Period ended  
    September 30, 2021     September 30, 2020     September 30, 2021     September 30, 2020  
                         
Numerator:                                
                                 
Net loss   $ (5,890,555 )   $ (304,559 )   $ (25,345,840 )   $ (376,657 )
                                 
Denominator:                                
                                 
Denominator for basic and diluted net loss per common share - weighted average of common shares     2,303,508       125,687       2,121,129       51,520  
                                 
Basic and diluted net loss per common share   $ (2.55 )   $ (2.42 )   $ (11.95 )   $ (7.31 )