Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments

LOSS PER SHARE

v3.22.2.2
LOSS PER SHARE
9 Months Ended
Sep. 30, 2022
Disclosure of earnings per share [Abstract]  
LOSS PER SHARE

10.LOSS PER SHARE

Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding during the year. Fully diluted loss per share is calculated by adjusting the weighted average number of common shares outstanding to assume conversion of all potential dilutive securities to common shares.

The Company has stock options and awards as potentially dilutive securities. Fully diluted net loss per share excludes all potentially dilutive shares if their effect is anti-dilutive. As a result of net losses incurred, all potentially dilutive securities have been excluded from the calculation of fully diluted net loss per share because including them would be anti-dilutive; therefore, basic and fully diluted number of shares is the same for the three and nine months ended September 30, 2022 and 2021.

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

2022

2021

2022

2021

Numerator:

Net loss

($10,370

)

($8,555

)

($30,474

)

($24,289

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding for basic EPS

 

111,664,823

 

 

111,127,690

 

 

111,397,231

 

 

107,520,004

 

Adjustment for diluted securities1

 

-

 

 

-

 

 

-

 

 

-

 

Weighted average number of common shares outstanding for diluted EPS

 

111,664,823

 

 

111,127,690

 

 

111,397,231

 

 

107,520,004

 

Basic and fully diluted loss per share

($0.09

)

($0.08

)

($0.27

)

($0.23

)

1The following securities were exercisable and not included in the calculation of fully diluted loss per share:

Stock options

882,180

1,144,385

882,180

1,144,385

RSUs

891,030

175,919

891,030

175,919

Warrants Derivative

17,945,660

18,955,281

17,945,660

18,955,281

Warrants Equity

9,912,633

9,912,633

9,912,633

9,912,633

29,631,503

30,188,218

29,631,503

30,188,218