| SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING |
The
following tables provide a reconciliation of the data used in the calculation of basic and diluted ordinary shares outstanding for the three-month period ended June 30, 2025, the three-month period ended June 30, 2024, the six-month period ended June 30, 2025,
and the six-month period ended June 30, 2024, respectively.
SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED COMMON SHARES OUTSTANDING
| Date | |
Transaction
Detail | |
Change
in Shares | | |
Three-month period
ended June
30, 2025, Weighted
Average
Ordinary Shares
Outstanding | |
| April 1, 2025 | |
Beginning Balance | |
| | | |
| 96,352,966 | |
| April 22, 2025 | |
Settlement of liability-classified
share-based compensation | |
| 100,001 | | |
| 75,825 | |
| June
30, 2025 | |
Ending Balance | |
| | | |
| 96,428,791 | |
| Date | |
Transaction
Detail | |
Change
in Shares | | |
Three-month
period ended
June 30, 2024, Weighted
Average
Ordinary
Shares
Outstanding | |
| April 1, 2024 | |
Beginning Balance | |
| | | |
| 95,487,677 | |
| April 1, 2024 | |
Restricted Stock Issuance | |
| 1,774 | | |
| 1,774 | |
| April 23, 2024 | |
Restricted Stock Issuance | |
| 1,333 | | |
| 996 | |
| May 2, 2024 | |
Return of shares from
W.D. Van Gonten Engineering | |
| (82,331 | ) | |
| (53,379 | ) |
| June
30, 2024 | |
Ending Balance | |
| | | |
| 95,437,068 | |
| Date | |
Transaction
Detail | |
Change
in Shares | | |
Six-month period
ended June
30, 2025, Weighted
Average
Ordinary Shares
Outstanding | |
| January 1, 2025 | |
Beginning Balance | |
| | | |
| 96,045,856 | |
| January 6, 2025 | |
Settlement of liability-classified
share-based compensation | |
| 61,353 | | |
| 59,319 | |
| February 17, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 666 | | |
| 489 | |
| February 27, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 1,000 | | |
| 680 | |
| March 17, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 12,430 | | |
| 7,211 | |
| March 18, 2025 | |
Equity-classified Restricted Stock Issuance | |
| 231,661 | | |
| 133,109 | |
| April 22,
2025 | |
Settlement of liability-classified
share-based compensation | |
| 100,001 | | |
| 38,122 | |
| June
30, 2025 | |
Ending Balance | |
| | | |
| 96,284,786 | |
| Date | |
Transaction
Detail | |
Change
in Shares | | |
Six-month
period ended
June 30, 2024, Weighted
Average
Ordinary
Shares
Outstanding | |
| January 1, 2024 | |
Beginning Balance | |
| | | |
| 94,996,397 | |
| January 9, 2024 | |
Restricted Stock Issuance | |
| 333 | | |
| 317 | |
| March 17, 2024 | |
Restricted Stock Issuance | |
| 12,751 | | |
| 7,356 | |
| March 18, 2024 | |
Restricted Stock Issuance | |
| 242,455 | | |
| 138,546 | |
| March 19, 2024 | |
Restricted Stock Issuance | |
| 235,741 | | |
| 133,414 | |
| April 1, 2024 | |
Restricted Stock Issuance | |
| 1,774 | | |
| 906 | |
| April 23, 2024 | |
Restricted Stock Issuance | |
| 1,333 | | |
| 498 | |
| May 2, 2024 | |
Return of shares from
W.D. Van Gonten Engineering | |
| (82,331 | ) | |
| (26,690 | ) |
| June
30, 2024 | |
Ending Balance | |
| | | |
| 95,250,744 | |
|
| SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE |
The
following tables provide the computation of basic and diluted earnings per share (“EPS”), for the three-month period
ended June 30, 2025, the three-month period ended June 30, 2024, the six-month period ended June 30, 2025, and the six-month period ended
June 30, 2024, respectively.
SCHEDULE OF BASIC AND DILUTED EARNINGS PER COMMON SHARE
| | |
For
the three-month period ended | |
| | |
June
30, 2025 | | |
June
30, 2024 | |
| | |
Net
income to Ordinary Shareholders | | |
Weighted-average
ordinary shares outstanding | | |
EPS | | |
Net
income to Ordinary Shareholders | | |
Weighted-average
ordinary shares outstanding | | |
EPS | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Basic EPS -
ordinary shares | |
$ | 15,201 | | |
| 96,428,791 | | |
$ | 0.16 | | |
$ | 18,873 | | |
| 95,437,068 | | |
$ | 0.20 | |
| Restricted
stock units | |
| | | |
| - | | |
| | | |
| | | |
| 88,611 | | |
| | |
| Antidilution sequencing - subtotal | |
| 15,201 | | |
| 96,428,791 | | |
| 0.16 | | |
| 18,873 | | |
| 95,525,679 | | |
| 0.20 | |
| 35,540,380 warrants
@ $5.75 per half share | |
| | | |
| - | | |
| | | |
| | | |
| - | | |
| | |
| May 30, 2025, tender
offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant | |
| | | |
| 1,210,716 | | |
| | | |
| | | |
| - | | |
| | |
| Diluted
EPS - ordinary shares | |
$ | 15,201 | | |
| 97,639,507 | | |
$ | 0.16 | | |
$ | 18,873 | | |
| 95,525,679 | | |
$ | 0.20 | |
| | |
For the six-month
period ended | |
| | |
June
30, 2025 | | |
June
30, 2024 | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Net
income to Ordinary Shareholders | | |
Weighted-average
ordinary shares outstanding | | |
EPS | | |
Net
loss to Ordinary Shareholders | | |
Weighted-average
ordinary shares outstanding | | |
EPS | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| Basic EPS -
ordinary shares | |
$ | 25,592 | | |
| 96,284,786 | | |
$ | 0.27 | | |
$ | 28,855 | | |
| 95,250,744 | | |
$ | 0.30 | |
| Restricted
stock units | |
| | | |
| 258,726 | | |
| | | |
| | | |
| 233,276 | | |
| | |
| Antidilution sequencing - subtotal | |
| 25,592 | | |
| 96,543,512 | | |
| 0.27 | | |
| 28,855 | | |
| 95,484,020 | | |
| 0.30 | |
| 35,540,380 warrants
@ $5.75 per half share | |
| | | |
| - | | |
| | | |
| | | |
| - | | |
| | |
| May 30, 2025, tender
offer to exchange 35,540,380 warrants at a maximum of 0.10 ordinary shares per warrant | |
| | | |
| 608,703 | | |
| | | |
| | | |
| - | | |
| | |
| Diluted
EPS - ordinary shares | |
$ | 25,592 | | |
| 97,152,215 | | |
$ | 0.26 | | |
$ | 28,855 | | |
| 95,484,020 | | |
$ | 0.30 | |
|