| Net Loss Per Common Share |
(9) Net Loss Per Common Share
Basic net loss per share is computed by dividing reported loss by the weighted average number of shares of common stock outstanding for the reported period. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock of the Company during reported periods.
A reconciliation of net loss per share calculations and the number of shares used in the calculation of basic net loss per share and diluted net loss per share is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
July 30, |
|
July 31, |
|
July 30, |
|
July 31, |
|
|
2022 |
|
2021 |
|
2022 |
|
2021 |
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to shareholders |
|
$ |
(12,691) |
|
$ |
(4,249) |
|
$ |
(24,587) |
|
$ |
(7,476) |
Earnings allocated to participating share awards |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Net loss attributable to common shares — Basic and diluted |
|
$ |
(12,691) |
|
$ |
(4,249) |
|
$ |
(24,587) |
|
$ |
(7,476) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding — Basic (a) (b) |
|
|
26,662,037 |
|
|
19,101,652 |
|
|
24,181,920 |
|
|
17,314,317 |
Dilutive effect of stock options, non-vested shares and warrants |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Weighted average number of common shares outstanding — Diluted |
|
|
26,662,037 |
|
|
19,101,652 |
|
|
24,181,920 |
|
|
17,314,317 |
Net loss per common share |
|
$ |
(0.48) |
|
$ |
(0.23) |
|
$ |
(1.02) |
|
$ |
(0.45) |
Net loss per common share — assuming dilution |
|
$ |
(0.48) |
|
$ |
(0.23) |
|
$ |
(1.02) |
|
$ |
(0.45) |
|
(a) |
For the three and six-month periods ended July 30, 2022, the basic earnings per share computation included 3,763,022 outstanding fully paid warrants to purchase shares of the Company’s common stock at a price of $0.001 per share. For the three and six-month periods ended July 31, 2021 the basic earnings per share computation included 21,000 outstanding fully paid warrants to purchase shares of the Company’s common stock at a price of $0.001 per share.
|
|
(b) |
Common warrants which are considered participating securities of 7,263,884 have been excluded because the Company had a net loss for the three and six-month periods ended July 30, 2022.
|
|