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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

10. EARNINGS (LOSS) PER SHARE.

 

The following tables compute basic and diluted earnings (loss) per share (in thousands, except per share data):

 

   Three Months Ended September 30, 2022 
   Loss
Numerator		   Shares
Denominator		   Per-Share
Amount		 
Net loss  $(28,038)          
Less: Preferred stock dividends   (319)          
Basic and Diluted loss per share:               
Loss available to common stockholders  $(28,357)   73,011   $(0.39)

 

   Three Months Ended September 30, 2021 
   Loss
Numerator		   Shares
Denominator		   Per-Share
Amount		 
Net loss  $(3,132)          
Less: Preferred stock dividends   (319)          
Basic and Diluted loss per share:               
Loss available to common stockholders  $(3,451)   71,383   $(0.05)

 

   Nine Months Ended September 30, 2022 
   Loss
Numerator		   Shares
Denominator		   Per-Share
Amount		 
Net loss  $(8,525)          
Less: Preferred stock dividends   (946)          
Basic and Diluted loss per share:               
Loss available to common stockholders  $(9,471)   71,815   $(0.13)

 

   Nine Months Ended September 30, 2021 
   Income
Numerator		   Shares
Denominator		   Per-Share
Amount		 
Net income  $9,936           
Less: Preferred stock dividends   (946)          
Less: Income allocated to participating securities   (120)          
Basic income per share:               
Income available to common stockholders  $8,870    71,002   $0.12 
Add: Dilutive instruments   
—
    1,258      
Diluted income per share:               
Income available to common stockholders  $8,870    72,260   $0.12 

 

There were an additional aggregate potentially dilutive weighted-average shares of 964,000 from convertible securities outstanding for the three and nine months ended September 30, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three and nine months ended September 30, 2022 and 2021, as their effect would have been anti-dilutive. At December 31, 2021, the Company had outstanding unexercised warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised on April 28, 2022.