Earnings Per Share
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

Note 5 – Earnings Per Share

 

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share for three months ended March 31, 2021 and 2020:

 

    Three Months Ended March 31,  
    2021     2020  
Numerator                
Net income (loss), as reported   $ 7,898,975     $ (1,065,193 )
                 
Denominator                
Weighted average shares, basic     28,662,885       22,820,450  
Dilutive effect of stock options, warrants and RSUs     1,339,844       -  
Shares used to compute diluted earnings per share     30,002,729       22,820,450  
                 
Basic earnings per share   $ 0.28     $ (0.05 )
Diluted earnings per share   $ 0.26     $ (0.05 )

 

As a result of incurring a net loss for the three months ended March 31, 2020, no potentially dilutive securities are included in the calculation of diluted earnings per share because such effect would be anti-dilutive. The Company had potentially dilutive securities as of March 31, 2020, consisting of: (i) 2,121,817 options and (ii) 199,090 warrants.