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

EARNINGS/(LOSS) PER SHARE

v3.21.1
EARNINGS/(LOSS) PER SHARE
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Earnings Per Share [Abstract]    
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.

 

Three Months Ended March 31,            
(in thousands except per share amounts)   2021     2020  
Net earnings/(loss)   $ (6,719 )   $ (7,874 )
                 
Basic                
Weighted average subordinate voting shares(1)     53,592       32,988  
Basic earnings (loss) per share   $ (0.13 )   $ (0.24 )
                 
Diluted                
Weighted average subordinate voting shares(1)     53,592       32,988  
Effects of Potential Dilutive Shares                
Options     -       -  
Warrants     -       -  
Restricted stock units     -       -  
Diluted weighted average subordinate voting shares     53,592       32,988  
Diluted earnings (loss) per share   $ (0.13 )   $ (0.24 )

_____________

(1) On an as converted basis.    

 

As the Company is in a loss position for the quarters ended March 31, 2021 and 2020, 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.

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.