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(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 income 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:
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Three Months Ended |
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April 30, |
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May 1, |
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2022 |
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2021 |
Numerator: |
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Net loss attributable to shareholders |
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$ |
(11,896) |
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$ |
(3,228) |
Earnings allocated to participating share awards |
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— |
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— |
Net loss attributable to common shares — Basic and diluted |
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$ |
(11,896) |
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$ |
(3,228) |
Denominator: |
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Weighted average number of common shares outstanding — Basic (a) |
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21,742,286 |
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15,517,454 |
Dilutive effect of stock options, non-vested shares and warrants (b) |
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— |
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— |
Weighted average number of common shares outstanding — Diluted |
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21,742,286 |
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15,517,454 |
Net loss per common share |
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$ |
(0.55) |
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$ |
(0.21) |
Net loss per common share — assuming dilution |
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$ |
(0.55) |
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$ |
(0.21) |
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(a) |
For the three-month period ended May 1, 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.
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(b) |
For the three-month periods ended April 30, 2022 and May 1, 2021 there were 449,290 and 650,000 incremental in-the-money potentially dilutive common shares outstanding. The incremental in-the-money potentially dilutive common stock shares are excluded from the computation of diluted earnings per share, as the effect of their inclusion would be anti-dilutive.
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