| Calculation of Basic and Diluted Earnings/(Loss) per Share |
The components of the calculation of basic and diluted
earnings/(loss) per common share in each of the periods comprising the accompanying consolidated statements of comprehensive income/(loss) are as follows:
| |
|
|
|
|
Year ended
December 31,
|
|
|
Year ended
December 31,
|
|
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|
2019
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|
|
2020
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|
|
2021
|
|
|
Net income/(loss) and comprehensive income/(loss)
|
|
$
|
1,088,149
|
|
|
$
|
(1,753,533
|
)
|
|
$
|
52,270,487
|
|
|
Less: Cumulative dividends on Series A Preferred Shares
|
|
|
(372,022
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Plus: Gain on extinguishment of preferred shares pursuant to the Series A Preferred Stock Amendment Agreement, net of expenses
|
|
|
112,637
|
|
|
|
—
|
|
|
|
—
|
|
|
Less: Deemed dividend on Series A Preferred Shares
|
|
|
— |
|
|
|
— |
|
|
|
(11,772,157 |
) |
|
Net income/(loss) and comprehensive income/(loss) available to common shareholders
|
|
|
828,764
|
|
|
|
(1,753,533
|
)
|
|
|
40,498,330
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding, basic
|
|
|
266,238
|
|
|
|
6,773,519
|
|
|
|
83,923,435
|
|
|
Earnings/(Loss) per common share, basic
|
|
|
3.11
|
|
|
|
(0.26
|
)
|
|
|
0.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Plus: Dilutive effect of warrants
|
|
|
— |
|
|
|
— |
|
|
|
1,409,293 |
|
|
Weighted average number of common shares outstanding, diluted
|
|
|
266,238 |
|
|
|
6,773,519 |
|
|
|
85,332,728 |
|
|
Earnings/(Loss) per common share, diluted
|
|
$ |
3.11 |
|
|
$ |
(0.26 |
) |
|
$ |
0.47 |
|
|