Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
10. EARNINGS PER SHARE.

 

The following tables compute basic and diluted earnings per share (in thousands, except per share data):

 

    Three Months Ended March 31, 2022  
    Loss
Numerator		     Shares Denominator     Per-Share Amount  
Net loss   $ (2,602 )                
Less: Preferred stock dividends     (312 )                
Basic and diluted loss per share:                        
Net loss available to common stockholders   $ (2,914 )     71,390     $ (0.04 )

 

    Three Months Ended March 31, 2021  
    Income Numerator     Shares Denominator     Per-Share Amount  
Net income   $ 4,678                  
Less: Preferred stock dividends     (312 )                
Basic income per share:                        
Income available to common stockholders   $ 4,366       70,351     $ 0.06  
Add: Dilutive securities    
      2,113          
Diluted income per share:                        
Income available to common stockholders   $ 4,366       72,464     $ 0.06  

  

There were an additional aggregate potentially dilutive weighted-average shares of 1,339,000 and 3,265,000 from convertible securities outstanding for the three months ended March 31, 2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three months ended March 31, 2022 and 2021, as their effect would have been anti-dilutive. At March 31, 2022, the Company had outstanding unexercised warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised on April 28, 2022.