v3.22.2.2
Note 13 - Loss Per Common Share
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

13.

LOSS PER COMMON SHARE

 

In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 260 (“FASB ASC 260”), “Earnings per Share,” Basic loss from continuing operations per share, basic income from discontinued operations per share and basic net income (loss) per share that is available to shareholders is computed by dividing the income or loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the respective loss available to common stockholders by the weighted average number of diluted shares outstanding during the period calculated using the treasury stock method. Due to the Company’s loss from continuing operations in the three and nine months ended September 30, 2022 and September 30, 2021, the assumed exercise of stock options, warrants and the unvested restricted stock that would otherwise increase diluted shares using the treasury stock method would have had an antidilutive effect and therefore 0.2 million shares related to stock options, 16.2 million warrants outstanding at September 30, 2022 and 4.6 million shares of restricted stock units were excluded from the computation of diluted net loss per share for the three and nine months ended September 30, 2022 and 0.2 million shares related to stock options outstanding at September 30, 2021 were excluded for the three and nine months ended September 30, 2021 and 2.3 million shares of restricted stock and restricted stock units were excluded from the computation of diluted net loss per share for the nine months ended September 30, 2021. Accordingly, diluted earnings (loss) per share for continuing operations, discontinued operations and net income is the same as basic earnings (loss) per share for continuing operations, discontinued operations and net income for the three and nine months ended September 30, 2022 and 2021.

 

  

For the Three Months

  

For the Nine Months

 

(in thousands, except share and per share amounts)

 

Ended September 30,

  

Ended September 30,

 
  

2022

  

2021

  

2022

  

2021

 

Loss from continuing operations, net of income taxes

 $(141,567) $(9,498) $(208,331) $(34,125)

Income (loss) from discontinued operations, net of income taxes

  (666)  (649)  (2,461)  (2,187)
                 

Net loss

 $(142,233) $(10,147) $(210,792) $(36,312)
                 

Basic and diluted weighted average number of shares outstanding

  115,637,323   62,823,330   98,209,495   53,142,557 
                 

Loss from continuing operations per common share - basic and diluted

 $(1.22) $(0.15) $(2.12) $(0.64)
                 

Loss from discontinued operations - basic and diluted

  (0.01)  (0.01)  (0.03)  (0.04)
                 

Loss per common share - basic and diluted

 $(1.23) $(0.16) $(2.15) $(0.68)