| Earnings (loss) per share |
Note 5 – Earnings (loss) per share The calculation of basic earnings (loss) per share
is based on the income attributable to ordinary shareholders of the Company and the weighted average number of ordinary shares in issue
for the years ended December 31, 2022, 2021 and 2020. The earnings (loss) calculation for the years
ended December 31, 2022, 2021 and 2020 excludes the following potentially dilutive ordinary shares:
| | |
Years ended December 31, | |
| | |
2022 | | |
2021 | | |
2020 | |
| Class A ordinary shares exercisable from warrants issued pursuant to the November 2020 Offering (as defined below in Note 12)(1) | |
| - | | |
| - | | |
| 76,667 | |
| Class A ordinary shares exercisable from warrants issued pursuant to the Warrant Inducement Offering (as defined below in Note 12)(1) | |
| 453,333 | | |
| 453,333 | | |
| - | |
| Class A ordinary shares exercisable from warrants issued pursuant to the March 2021 Offering (as defined below in Note 12)(1) | |
| 233,333 | | |
| 233,333 | | |
| - | |
| Class A ordinary shares issuable from the outstanding restricted share awards(1) | |
| 133,067 | | |
| 53,000 | | |
| - | |
| Total | |
| 819,733 | | |
| 739,666 | | |
| 76,667 | |
| (1) | Retrospectively adjusted for the effect of the Reverse Stock Split effected on November 20, 2022. See Note 12. | The following reflects the income and share data used in the basic
and diluted earnings (loss) per ordinary share computations:
| | |
Years ended December 31, | |
| | |
2022 | | |
2021 | | |
2020 | |
| Earnings (loss) attributable to ordinary shareholders of the Company for basic earnings (loss) per share calculation | |
$ | (43,888,242 | ) | |
$ | 4,430,941 | | |
$ | (30,675,420 | ) |
| Weighted average number of ordinary shares outstanding for basic earnings (loss) per share calculation(1) | |
| 6,247,333 | | |
| 5,923,845 | | |
| 4,064,708 | |
| Basic earnings (loss) per share(1) | |
$ | (7.03 | ) | |
$ | 0.75 | | |
$ | (7.55 | ) |
| | |
| | | |
| | | |
| | |
| Earnings (loss) attributable to ordinary shareholders of the Company for diluted earnings (loss) per share calculation | |
$ | (43,888,242 | ) | |
$ | 4,430,941 | | |
$ | (30,675,420 | ) |
| | |
| | | |
| | | |
| | |
| Weighted average number of ordinary shares outstanding basic earnings (loss) per share calculation(1) | |
| 6,247,333 | | |
| 5,923,845 | | |
| 4,064,708 | |
| Adjusted for: | |
| | | |
| | | |
| | |
| - incremental shares issuable related to warrants issued(1) | |
| - | | |
| 5,013 | | |
| - | |
| Weighted average number of shares outstanding for diluted earnings (loss) per share calculation(1) | |
| 6,247,333 | | |
| 5,928,858 | | |
| 4,064,708 | |
| | |
| | | |
| | | |
| | |
| Diluted earnings (loss) per share(1) | |
$ | (7.03 | ) | |
$ | 0.75 | | |
$ | (7.55 | ) |
| (1) | Retrospectively adjusted for the effect of
the Reverse Stock Split effected on November 20, 2022. See Note 12. |
|