EARNINGS PER SHARE (''EPS'')

3 Months Ended

Mar. 31, 2021

8. EARNINGS PER SHARE (“EPS”)

The computations of basic EPS are based on the Company’s weighted average shares outstanding. The basic weighted average number of shares of Common Stock outstanding was 14,808,000 and 14,598,000 for the three months ended March 31, 2021 and 2020, respectively. In order to calculate the diluted weighted average number of shares of Common Stock outstanding for the three months ended March 31, 2021, the basic weighted average number of shares of Common Stock outstanding was increased by 0 shares to reflect the dilutive effect of certain shares of the Company’s Series A Preferred Stock. In order to calculate the diluted weighted average number of shares of Common Stock outstanding for the three months ended March 31, 2020, the basic weighted average number of shares of Common Stock outstanding was increased by 1,000 to reflect the dilutive effect of certain shares of the Company’s Series A Preferred Stock. No shares of Series D Preferred Stock outstanding as of March 31, 2021 had a dilutive effect and no shares of Series D Preferred Stock were outstanding as of March 31, 2020. Outstanding Series A Preferred Warrants were not included in the computation of diluted EPS for the three months ended March 31, 2021 and 2020 because their impact was either anti-dilutive or such warrants were not exercisable during such periods (Note 10). Outstanding shares of Series L Preferred Stock were not included in the computation of diluted EPS for the three months ended March 31, 2021 and 2020 because such shares were not redeemable during such periods.

EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding.

The following table reconciles the numerator and denominator used in computing the Company’s basic and diluted per-share amounts for net loss attributable to common stockholders for the three months ended March 31, 2021 and 2020 (in thousands, except per share amounts):


	Three Months Ended March 31,
	2021		2020
Numerator:
Net loss attributable to common stockholders	$	(8,206)	$	(6,787)
Redeemable preferred stock dividends declared on dilutive shares	—		(1)
Diluted net loss attributable to common stockholders	$	(8,206)	$	(6,788)
Denominator:
Basic weighted average shares of Common Stock outstanding	14,808		14,598
Effect of dilutive securities—contingently issuable shares	—		1
Diluted weighted average shares and common stock equivalents outstanding	14,808		14,599
Net loss attributable to common stockholders per share:
Basic	$	(0.55)	$	(0.46)
Diluted	$	(0.55)	$	(0.46)