| 11. | Earnings (Loss) per Share |
The following is the computation of earnings (loss) per basic and diluted share:
| | | Three Months Ended September 30, | | | Nine Months Ended September 30, | |
| (in thousands, except share and per share data) | | 2022 | | | 2021 | | | 2022 | | | 2021 | |
| | | | | | | | | | | | | | | | | |
| Numerator: | | | | | | | | | | | | | | | | |
| Net earnings (loss) attributable to common shareholders | | $ | 646 | | | $ | (56 | ) | | $ | 554 | | | $ | (201 | ) |
| Add: After tax effect of convertible notes interest | | | 4 | | | | - | | | | 12 | | | | - | |
| Net earnings (loss) attributable for dilutive securities | | $ | 650 | | | $ | (56 | ) | | $ | 566 | | | $ | (201 | ) |
| | | | | | | | | | | | | | | | | |
| Denominator: | | | | | | | | | | | | | | | | |
| Weighted average number of common shares - basic | | | 493,968 | | | | 441,525 | | | | 493,968 | | | | 435,133 | |
| Dilutive effect of: | | | | | | | | | | | | | | | | |
| Shares issuable upon conversion of convertible notes payable | | | 250,656 | | | | - | | | | 250,656 | | | | - | |
| Shares issuable upon conversion of 95,226 Class A Preferred Shares | | | 4,380 | | | | - | | | | 4,380 | | | | - | |
| Shares issuable upon conversion of 231,944 Class C Preferred Shares | | | 2,319,440 | | | | - | | | | 2,319,440 | | | | - | |
| Weighted average number of common shares - dilutive | | | 3,068,444 | | | | 441,525 | | | | 3,068,444 | | | | 435,133 | |
| | | | | | | | | | | | | | | | | |
| Basic earnings (loss) per common share: | | | | | | | | | | | | | | | | |
| Net earnings (loss) available to common shareholders | | $ | 1.31 | | | $ | (0.13 | ) | | $ | 1.12 | | | $ | (0.46 | ) |
| Diluted earnings (loss) per common share: | | | | | | | | | | | | | | | | |
| Net earnings (loss) available to common shareholders | | $ | 0.21 | | | $ | (0.13 | ) | | $ | 0.18 | | | $ | (0.46 | ) |
In periods when we incur a net loss, the computation of diluted loss per share excludes shares issuable upon conversion of the Company’s Class A Preferred Shares, Class C Preferred Shares and convertible notes payable because the effect of the conversions would be anti-dilutive. Similarly, outstanding options and restricted Common Shares were not included computation of diluted earnings per share for each of the periods above because they would be anti-dilutive.
|