Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.20.1
Earnings per Share
3 Months Ended
Mar. 31, 2020
Earnings per Share  
Earnings per Share

13.Loss per Share

Basic loss per share of common stock is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share of common stock is computed by dividing net loss by the weighted average number of common shares, using the two-class method. As the Company has granted RSUs that both participate in dividend equivalents and do not participate in dividend equivalents, the Company has calculated loss per share pursuant to the two-class method, which is a loss allocation formula that determines loss per share for common stock and participating securities according to dividends declared and participation rights in undistributed losses. Under this method, all losses (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted average number of common stock and dilutive common stock outstanding during the period.  Potential common shares in the diluted net loss per share computation are excluded to the extent that they would be anti-dilutive. Weighted average of potentially dilutive non-participating RSU’s were 32,732 and 31,389 in the three months ended March 31, 2020 and 2019, respectively.

Three Months Ended

March 31,

March 31,

2020

2019

Basic loss per common share

Net loss

$

(10,086)

$

(297)

Less loss allocated to participating securities

-

-

Net loss allocated to common shareholders

$

(10,086)

$

(297)

Weighted average common shares outstanding

22,813,256

22,729,084

$

(0.44)

$

(0.01)

Loss per common share assuming dilution

Net loss

$

(10,086)

$

(297)

Less loss allocated to participating securities

-

-

Net loss allocated to common shareholders

$

(10,086)

$

(297)

Weighted average common shares outstanding

22,813,256

22,729,084

Incremental shares applicable to non-participating RSUs

-

-

Weighted average common shares assuming dilution

22,813,256

22,729,084

$

(0.44)

$

(0.01)