| Schedule of Earnings Per Share |
A reconciliation of the components of pro forma basic and diluted earnings per common share is presented in the table below:
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Three Months Ended |
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March 31, 2016 |
Pro Forma C Corporation Data (unaudited): |
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|
Net loss, as reported |
|
(21,130,434 |
) |
Pro forma benefit for income taxes |
|
(944,584 |
) |
Pro forma net loss |
|
(20,185,850 |
) |
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|
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Basic loss per share: |
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Allocation of earnings: |
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|
Net loss |
|
$ |
(20,185,850 |
) |
Weighted average common shares outstanding |
|
37,500,000 |
|
Basic loss per share |
|
$ |
(0.54 |
) |
|
|
|
Diluted loss per share: |
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|
Allocation of earnings: |
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|
Net loss |
|
$ |
(20,185,850 |
) |
Weighted average common shares, including dilutive effect (a)
|
|
37,500,000 |
|
Diluted loss per share |
|
$ |
(0.54 |
) |
|
|
(a) |
No incremental shares of potentially dilutive restricted stock awards were included for periods presented as their effect was antidulitive under the treasury stock method. |
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Three Months Ended March 31, |
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2017 |
|
2016 |
Basic loss per share: |
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|
|
|
Allocation of earnings: |
|
|
|
|
Net loss |
|
$ |
(4,936,514 |
) |
|
$ |
(21,130,434 |
) |
Weighted average common shares outstanding |
|
37,500,000 |
|
|
30,000,000 |
|
Basic loss per share |
|
$ |
(0.13 |
) |
|
$ |
(0.70 |
) |
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|
|
Diluted loss per share: |
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|
|
|
Allocation of earnings: |
|
|
|
|
Net loss |
|
$ |
(4,936,514 |
) |
|
$ |
(21,130,434 |
) |
Weighted average common shares, including dilutive effect (a)
|
|
37,500,000 |
|
|
30,000,000 |
|
Diluted loss per share |
|
$ |
(0.13 |
) |
|
$ |
(0.70 |
) |
|
|
(a) |
No incremental shares of potentially dilutive restricted stock awards were included for periods presented as their effect was antidulitive under the treasury stock method. |
|