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7.
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Earnings (Loss) per Share
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The following is the computation of earnings (loss) per basic and diluted share:
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|
Three Months Ended March 31,
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(in thousands, except share and per share data)
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2024
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|
|
2023
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|
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|
|
|
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Numerator:
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|
|
|
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Income (loss) from continuing operations
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|
$ |
292 |
|
|
$ |
(169 |
) |
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Add: After tax effect of convertible notes interest
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|
|
4 |
|
|
|
4 |
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Income (loss) from continuing operations attributable to Common Stockholders
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|
|
296 |
|
|
|
(165 |
) |
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|
|
|
|
|
|
|
|
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Income (loss) from discontinued operations, net of income taxes
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|
|
81 |
|
|
|
(556 |
) |
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Less: Noncontrolling interest in subsidiary
|
|
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(66 |
) |
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|
471 |
|
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Income (loss) from discontinued operations attributable to Common Stockholders
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|
|
15 |
|
|
|
(85 |
) |
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|
|
|
|
|
|
|
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Net earnings (loss) attributable for dilutive securities
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$ |
311 |
|
|
$ |
(250 |
) |
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|
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Denominator:
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Weighted average number of common shares - basic
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493,968 |
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493,968 |
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Dilutive effect of:
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|
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|
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Shares issuable upon conversion of convertible notes payable
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254,391 |
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254,391 |
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Shares issuable upon conversion of 95,226 Class A Preferred Shares
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4,380 |
|
|
|
4,380 |
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Shares issuable upon conversion of 231,944 Class C Preferred Shares
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2,319,440 |
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2,319,440 |
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Weighted average number of common shares - dilutive
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3,072,179 |
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3,072,179 |
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|
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|
|
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Income (loss) from continuing operations:
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|
|
|
|
|
|
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Basic
|
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$ |
0.60 |
|
|
$ |
(0.33 |
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Diluted
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|
$ |
0.10 |
|
|
$ |
(0.33 |
) |
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Income (loss) from discontinued operations:
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|
|
|
|
|
|
|
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Basic
|
|
$ |
0.03 |
|
|
$ |
(0.17 |
) |
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Diluted
|
|
$ |
0.00 |
|
|
$ |
(0.17 |
) |
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Earnings (loss) per share:
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|
|
|
|
|
|
|
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Basic
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$ |
0.63 |
|
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$ |
(0.51 |
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Diluted
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$ |
0.10 |
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|
$ |
(0.51 |
) |
In periods when we incur a net loss, the computation of diluted earnings per share for each of the periods above 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 in the computation of diluted earnings per share for each of the periods above because they would be anti-dilutive.
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