| Schedule of Weighted Average Common Shares Outstanding |
The net income available to common stockholders and weighted-average common shares outstanding are as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net (loss) income |
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$ |
(30,103 |
) |
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$ |
11,679 |
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$ |
11,546 |
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$ |
62,127 |
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Allocation of undistributed earnings to nonvested restricted shares |
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- |
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(384 |
) |
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(248 |
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(2,151 |
) |
Net income available to common stockholders - basic |
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$ |
(30,103 |
) |
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$ |
11,295 |
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$ |
11,298 |
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$ |
59,976 |
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Undistributed earnings reallocated to nonvested restricted shares |
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- |
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18 |
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25 |
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116 |
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Net income available to common stockholders - diluted |
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$ |
(30,103 |
) |
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$ |
11,313 |
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$ |
11,323 |
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$ |
60,092 |
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Denominator: |
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Weighted average common shares outstanding |
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18,481,687 |
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17,999,806 |
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18,401,584 |
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17,927,741 |
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Issuance of Warrants |
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13,457,625 |
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13,793,940 |
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13,531,908 |
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13,800,162 |
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Weighted average common shares outstanding - basic |
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31,939,312 |
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31,793,746 |
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31,933,492 |
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31,727,903 |
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Issuance of Fixed Warrants |
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- |
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797,192 |
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1,044,070 |
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924,637 |
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Dilutive effect of employee stock options |
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- |
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807,392 |
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2,571,692 |
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951,087 |
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Weighted average common shares outstanding - diluted |
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31,939,312 |
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33,398,330 |
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35,549,254 |
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33,603,627 |
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