Net loss per Common Share

6 Months Ended

Jun. 30, 2020

The computation of basic net loss per share is based on the weighted average number of common stock outstanding for the three and six months ended June 30, 2020 and 2019. Diluted net loss 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 June 30, 2020 does not include 1,511,827 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 and six months ended June 30, 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 and six months ended June 30, 2020 as their effect was anti-dilutive. Diluted net income per share as of June 30, 2019 does not include 1,825,276 stock awards, 2,298,296 stock options and 152,266 warrants, as their effect was anti-dilutive.

The following table summarizes the calculation of basic and diluted loss per share:


	Three Months Ended						Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Net loss	$	(20,491,327)	$	(5,992,156)	$	(24,019,086)	$	(5,962,673)
Weighted Average Shares - Basic	71,945,621		71,348,524		71,907,387		71,316,093
Dilutive effect of stock options and restricted stock units	—		—		—		—
Weighted Average Shares - Diluted	71,945,621		71,348,524		71,907,387		71,316,093
Basic loss per share	$	(0.28)	$	(0.08)	$	(0.33)	$	(0.08)
Diluted loss per share	$	(0.28)	$	(0.08)	$	(0.33)	$	(0.08)