|
NOTE 19 – EARNINGS PER SHARE
The following is a reconciliation for the calculation of basic and diluted earnings (loss) per share for the years ended December 31, 2024 and 2023:
| |
|
(in thousands, except for shares and per share data) |
|
| |
|
Year Ended December 31, |
|
| |
|
2024 |
|
|
2023 |
|
| Net Income (Loss) from Continuing Operations |
|
$ |
16,893 |
|
|
$ |
(13,686 |
) |
| Less: Accretion of Mezzanine Equity |
|
|
(741 |
) |
|
|
— |
|
| Less: Convertible Series V Preferred Stock Amendment |
|
|
(947 |
) |
|
|
— |
|
| Adjusted Net Income (Loss) from Continuing Operations Attributable to Common Shareholders, Basic |
|
$ |
15,205 |
|
|
$ |
(13,686 |
) |
| |
|
|
|
|
|
|
|
|
| Net Income (Loss) from Continuing Operations |
|
$ |
16,893 |
|
|
$ |
(13,686 |
) |
| Less: Accretion of Mezzanine Equity |
|
|
(741 |
) |
|
|
— |
|
| Add: Interest from Convertible Debt |
|
|
89 |
|
|
|
— |
|
| Adjusted Net Income (Loss) from Continuing Operations Attributable to Common Shareholders, Diluted |
|
$ |
16,241 |
|
|
$ |
(13,686 |
) |
| |
|
|
|
|
|
|
|
|
| Weighted-Average Shares Outstanding - Basic |
|
|
8,499,807 |
|
|
|
8,193,853 |
|
| Effects of Dilutive Securities: |
|
|
|
|
|
|
|
|
| Warrants to Purchase Common Stock |
|
|
1,242 |
|
|
|
— |
|
| Convertible Promissory Notes |
|
|
203,947 |
|
|
|
— |
|
| Convertible Series V Preferred Stock |
|
|
4,690,477 |
|
|
|
— |
|
| Weighted-Average Shares Outstanding - Diluted |
|
|
13,395,473 |
|
|
|
8,193,853 |
|
| |
|
|
|
|
|
|
|
|
| Net Income (Loss) from Continuing Operations per Common Share - Basic |
|
$ |
1.79 |
|
|
$ |
(1.67 |
) |
| Net Income (Loss) from Continuing Operations per Common Share - Diluted |
|
$ |
1.21 |
|
|
$ |
(1.67 |
) |
Refer to "Note 27 - Subsequent Events" for transactions that occurred after December 31, 2024 but before issuance of the consolidated financial statements.
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