Note 9 - Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

9.

         Earnings (Loss) Per Share

The following table is a calculation of the pro forma net loss per basic and diluted share for the

three

months and

nine

months ended

September 30, 2017

and

2016.

	Three Months ended September 30 ,						Nine M onths ended September 30 ,
	2017			2016			2017			2016
Net loss	$	(6,235,543	)	$	(1,532,698	)	$	(12,816,658	)	$	(5,980,062	)
Add:
Interest expense on note payable to Ramaco Coal, LLC (1)		-			15,900			21,855			15,900
Basic net loss attributable to common shareholders		(6,235,543	)		(1,516,798	)		(12,794,803	)		(5,964,162	)
Effect of dilutive securities (2)		-			-			-			-
Diluted net loss attributable to common shareholders	$	(6,235,543	)	$	(1,516,798	)	$	(12,794,803	)	$	(5,964,162	)
Weighted average shares outstanding (basic and fully diluted)		39,509,311			22,498,150			36,912,362			22,498,150
Net loss per common share	$	(0.16	)	$	(0.07	)	$	(0.35	)	$	(0.27	)

(

1

) Adjustment has been made to the pro forma loss to addback interest expense associated with the note payable to Ramaco Coal, LLC which was repaid in full using proceeds from the IPO.

(

2

) Excludes

937,424

shares in

2016

periods issuable upon the exercise of outstanding options held by certain of our executive management because their effect would be antidilutive. Similarly, assumed conversion of then outstanding Series A preferred units is excluded in the

2016

periods because their effect would be antidilutive.

Pro forma share and per share information presented have been adjusted to reflect the shares issued as a result of the Reorganization and IPO.