Three Months Ended

March 31,

(In thousands, except share and earnings per share data)

2021

2020

Basic earnings (loss) per common share

Numerator:

Net income (loss)

$

(1,118

)

$

22,308

Amount attributable to unvested restricted shares

-

(484

)

Amount attributable to warrants outstanding

-

(3,460

)

Net income (loss) allocated to common shareholders

(1,118

)

18,364

Denominator:

Weighted-average common shares issued and outstanding

33,236,818

21,010,817

Basic earnings (loss) per common share

(0.03

)

0.87

Diluted earnings (loss) per common share

Numerator:

Net income (loss)

(1,118

)

22,308

Amount attributable to warrants

-

(569

)

Less: gain related to change in fair value of warrants

-

(21,913

)

Diluted loss allocated to common shareholders

(1,118

)

(174

)

Denominator:

Weighted-average common shares issued and outstanding

33,236,818

21,010,817

Diluted loss per common share

$

(0.03

)

$

(0.01

)