Net (loss)/income per Common Share

3 Months Ended

Mar. 31, 2020

The computation of basic net (loss)/income per share is based on the weighted average number of common stock outstanding for the three months ended March 31, 2020 and 2019. Diluted net income per share gives effect to restricted stock awards and stock options using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share as of March 31, 2020 does not include 1,227,057 restricted stock awards, 2,282,171 stock options and 152,266 warrants, as their effect was anti-dilutive. Additionally, the Convertible Bond Debt is not considered a participating security and therefore not included in the computation of the Basic loss per share for the three months ended March 31, 2020. The Company determined that it does not overcome the presumption of share settlement of outstanding debt and therefore the Company applied the if-converted method and did not include the potential shares to be issued upon conversion of Convertible Bond Debt in the calculation of Diluted loss per share for the three months ended March 31, 2020 as their effect was anti-dilutive. Diluted net income per share for the three months ended March 31, 2019 does not include 2,750 stock awards, 348,625 stock options and 152,266 warrants, as their effect was anti-dilutive.

The following table summarizes the calculation of basic and diluted (loss)/income per share:


	Three Months Ended
	March 31, 2020		March 31, 2019
Net (loss)/income	$	(3,527,759)	$	29,483
Weighted Average Shares - Basic	71,869,152		71,283,301
Dilutive effect of stock options and restricted stock units	—		787,567
Weighted Average Shares - Diluted	71,869,152		72,070,868
Basic (loss)/income per share	$	(0.05)	$	—
Diluted (loss)/income per share	$	(0.05)	$	—