Loss) Per Common Share

Basic earnings (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per common share is calculated using the treasury share method by giving effect to all potentially dilutive securities that were outstanding. Potentially dilutive options and warrants to purchase common stock that were outstanding during the three months ended March 31, 2019 were excluded from the diluted loss per share calculation for the three months ended March 31, 2019 because such shares had an anti-dilutive effect due to the net loss reported in that period. Therefore, basic and diluted loss per common share is the same for the three months ended March 31, 2019.

The following is the computation of earnings (loss) per common share for the three months ended March 31, 2020 and 2019:



	Three Months Ended March 31,
	2020		2019
Net income (loss)	1,150		(5,286		)

Weighted-average basic common shares outstanding	87,079,160		44,358,000
Dilutive effect of exercise of stock options	1,165,472		—
Weighted-average diluted common shares outstanding	88,244,632		44,358,000

Earnings (loss) per basic common share	$	0.01	$	(0.12	)
Earnings (loss) per diluted common share	$	0.01	$	(0.12	)

The outstanding securities presented below were excluded from the calculation of earnings (loss) per common share for the periods presented, because such securities would have been anti-dilutive due to the Company’s earnings (loss) per share during that period:



	As of March 31,
	2020	2019
Options to purchase common stock	2,924,355	5,125,659
Warrants to purchase common stock	413,320	413,320