General form of registration statement for all companies including face-amount certificate companies

NET INCOME (LOSS) PER SHARE

v3.21.2
NET INCOME (LOSS) PER SHARE
 6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Net income (loss) per share:    
13. NET INCOME (LOSS) PER SHARE

13. NET INCOME (LOSS) PER SHARE

 

Net income (loss) per share represents the net earnings/loss attributable to shareholders divided by the weighted average number of shares outstanding during the period on an as converted basis.

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

(in thousands except per share amounts)

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net income (loss)

 

 $ 731

 

 

 $ (8,757 )

 

 $ (5,988 )

 

 $ (16,631 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 $ 0.01

 

 

 $ (0.26 )

 

 $ (0.10 )

 

 $ (0.50 )

Diluted

 

 $ 0.00

 

 

 $ (0.26 )

 

 $ (0.10 )

 

 $ (0.50 )

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 71,021

 

 

 

 33,307

 

 

 

 61,956

 

 

 

 33,025

 

Diluted

 

 

 201,278

 

 

 

 33,307

 

 

 

 61,956

 

 

 

 33,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average potentially diluted shares (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic shares

 

 

 71,021

 

 

 

 33,307

 

 

 

 61,956

 

 

 

 33,025

 

Options

 

 

 2,908

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Warrants

 

 

 60,767

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Convertible debentures

 

 

 64,796

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Restricted stock units

 

 

 1,786

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Total weighted average potentially diluted shares:

 

 

 201,278

 

 

 

 33,307

 

 

 

 61,956

 

 

 

 33,025

 

 

(1) For the above net loss periods, the inclusion of options, warrants, convertible debentures and restricted stock units in the calculation of diluted earnings per share would be anti-dilutive, and accordingly, were excluded from the diluted loss per share calculation.

17. EARNINGS/(LOSS) PER SHARE

 

Net earnings/(loss) per share represents the net earnings/loss attributable to shareholders divided by the weighted average number of shares outstanding during the period on an as converted basis.

 

(Amounts Expressed in United States Dollars Unless Otherwise Stated)

 

Years Ended December 31,

 

 

(in thousands except per share amounts)

 

2020

 

 

2019

 

Net earnings/(loss)

 

 $ (21,910 )

 

 $ (49,934 )

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

Weighted average subordinate voting shares(1)

 

 

 33,940

 

 

 

 31,379

 

Basic earnings (loss) per share

 

 $ (0.65 )

 

 $ (1.59 )

 

 

 

 

 

 

 

 

 

Diluted

 

 

 

 

 

 

 

 

Weighted average subordinate voting shares(1)

 

 

 33,940

 

 

 

 31,379

 

Effects of Potential Dilutive Shares

 

 

 

 

 

 

 

 

Options

 

 

 -

 

 

 

 -

 

Warrants

 

 

 -

 

 

 

 -

 

Restricted stock units

 

 

 -

 

 

 

 -

 

Diluted weighted average subordinate voting shares

 

 

 33,940

 

 

 

 31,379

 

Diluted earnings (loss) per share

 

 $ (0.65 )

 

 $ (1.59 )

_____________

(1) On an as converted basis.

As the Company is in a loss position for the years ended December 31, 2020 and 2019, the inclusion of options, warrants, convertible debentures and restricted stock units in the calculation of diluted earnings per share would be anti-dilutive, and accordingly, were excluded from the diluted loss per share calculation.