Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2020

Earnings (Loss) Per Common Share

Earnings (Loss) Per Common Share

Note 16.     Earnings (Loss) Per Common Share

The following table summarizes the Company’s earnings (loss) per share (USD in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2020		2019		2020		2019
Net earnings (loss) attributable to common stockholders	$	(8,286)	$	(13,713)	$	(47,212)	$	11,507
Interest expense attributable to convertible promissory note		—		—		—		125
Net earnings (loss) assuming dilution	$	(8,286)	$	(13,713)	$	(47,212)	$	11,632
Basic weighted average common shares outstanding		237,535,999		127,609,748		191,976,856		113,964,933
Effect of dilutive securities
Convertible preferred shares- Series A		—		—		—		933,333
Conversion of restricted shares and employee stock options		—		—		—		22,823
Convertible promissory notes		—		—		—		2,777,687
Contingently issuable shares		—		—		—		621,117
Diluted potential common shares		237,535,999		127,609,748		191,976,856		118,319,893
Earnings (loss) per share:
Basic	$	(0.03)	$	(0.11)	$	(0.25)	$	0.10
Diluted	$	(0.03)	$	(0.11)	$	(0.25)	$	0.10

Basic earnings (loss) per common share attributable to the Company’s shareholders is calculated by dividing the net earnings (loss) attributable to the Company’s shareholders by the weighted average number of outstanding common shares during the period.

Diluted earnings (loss) per share is calculated by taking net earnings (loss) attributable to the Company’s shareholders, divided by the diluted weighted average common shares outstanding. Diluted net loss per share equals basic net loss per share because the effect of securities convertible into common shares is anti-dilutive.

The following table includes the number of shares that may be dilutive potential common shares in the future. The holders of these shares do not have a contractual obligation to share in the Company’s losses and thus these shares were not included in the computation of diluted loss per share because the effect was antidilutive. (in thousands):

	Three Months Ended		Nine Months Ended
	September 30,	September 30,	September 30,	September 30,
	2020	2019	2020	2019
Warrants	1,650	3,709	1,650	3,709
Options and RSU	26,359	14,971	26,359	14,966
Series A Preferred Stock	933	933	933	—
DBOT contingent consideration	1,197	2,323	1,197	2,323
Convertible promissory note and interest	38,650	12,418	37,315	9,325
Total	68,789	34,354	67,454	30,323