Earnings per share

9 Months Ended

Sep. 30, 2023

Earnings per share

Earnings per share

Basic and diluted earnings per share are computed by dividing net loss for the period by the weighted average number of shares outstanding during the period.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022				2023			2022
Net loss	$	(31,209,845	)	$	(36,744,722	)	$	(88,391,854	)	$	(153,976,295	)
Weighted-average shares outstanding - basic and diluted		275,887,223			272,040,343			275,671,199			247,010,044
Net loss per share basic and diluted	$	(0.11	)	$	(0.14	)	$	(0.32	)	$	(0.62	)

For the three and nine months ended September 30, 2023 and 2022, the basic and diluted weighted-average shares outstanding included penny warrants with either no contingencies or met contingencies, which have not been exercised of 6,750,000 and 9,122,536, respectively. 

The following table presents the number of shares excluded from the calculation of diluted net loss per share as their effect would have been anti-dilutive: 

	September 30,
	2023	2022
Unvested restricted stock units	1,373,260	427,235
Penny warrants subject to unmet contingencies	13,822,536	14,172,536
Warrants "out of the money"	42,749,879	42,749,979
Total	57,945,675	57,349,750