Annual report pursuant to Section 13 and 15(d)

LOSS PER COMMON SHARE

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LOSS PER COMMON SHARE
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
LOSS PER COMMON SHARE

NOTE 9 – 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 7,488,256 and 60,636 shares as of December 31, 2021 and 2020, respectively, 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 December 31, 2021 or 2020. 

 

           
    Year ended     Period ended  
    December 31, 2021     December 31, 2020  
             
Numerator:                
                 
Net loss   $ (40,119,235 )   $ (1,374,413 )
                 
Denominator:                
                 
Denominator for basic and diluted net loss per common share - weighted average of common shares     4,567,235       604,100  
                 
Basic and diluted net loss per common share   $ (8.78 )   $ (2.28 )