Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2019

Note 11 – Earnings (loss) per share

Basic earnings (loss) per common share (“EPS”) is calculated by dividing the net earnings (loss) for the year by the weighted-average number of common shares outstanding during the period. Due to the Company’s net loss for the years ended December 31, 2019 and 2018, all potential common stock equivalents were anti-dilutive.

The following table summarizes basic and diluted earnings (loss) per share or the years ended December 31, 2019 and 2018 (in thousands, except per share amounts):

	Year Ended December 31, 2019			Year Ended December 31, 2018
Basic and diluted loss per share:
Net loss	$	(54,014	)	$	(67,739	)
Weighted average common shares outstanding - basic		42,425,295			40,382,578
Dilutive effect of potentially issuable shares		—			—
Weighted average common shares outstanding - diluted		42,425,295			40,382,578
Basic loss per share	$	(1.27	)	$	(1.68	)
Dilutive effect of potentially issuable shares		—			—
Diluted loss per share	$	(1.27	)	$	(1.68	)
Common share equivalents excluded due to anti-dilutive effect		—			—