| EARNINGS PER SHARE INFORMATION |
NOTE 4 — EARNINGS PER SHARE INFORMATION
The following table presents the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023. For all dilutive securities, the treasury stock method of calculating the incremental shares is applied.
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2024 |
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June 30, 2023 |
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June 30, 2024 |
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June 30, 2023 |
| Net Income |
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$ |
22,418,994 |
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$ |
28,791,605 |
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$ |
27,934,371 |
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$ |
61,507,384 |
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| Basic Weighted-Average Shares Outstanding |
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197,976,721 |
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193,077,859 |
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197,684,638 |
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185,545,775 |
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| Effect of dilutive securities: |
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| Stock options |
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— |
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— |
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— |
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— |
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| Restricted stock units |
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1,872,895 |
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1,096,128 |
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1,477,377 |
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1,192,039 |
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| Performance stock units |
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534,997 |
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276,566 |
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643,290 |
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241,140 |
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| Common warrants |
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44,200 |
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1,415,980 |
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40,207 |
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6,045,012 |
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| Diluted Weighted-Average Shares Outstanding |
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200,428,813 |
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195,866,533 |
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199,845,512 |
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193,023,966 |
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| Basic Earnings per Share |
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$ |
0.11 |
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$ |
0.15 |
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$ |
0.14 |
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$ |
0.33 |
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| Diluted Earnings per Share |
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$ |
0.11 |
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$ |
0.15 |
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$ |
0.14 |
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$ |
0.32 |
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The following table presents the securities which were excluded from the Company's computation of diluted earnings per share for the three and six months ended June 30, 2024 and 2023, as their effect would have been anti-dilutive.
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For the Three Months Ended |
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For the Six Months Ended |
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June 30, 2024 |
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June 30, 2023 |
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June 30, 2024 |
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June 30, 2023 |
| Antidilutive securities: |
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| Stock options to purchase common stock |
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65,500 |
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265,500 |
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67,533 |
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265,500 |
| Unvested restricted stock units |
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57,363 |
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1,803,513 |
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28,681 |
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71,985 |
| Unvested performance stock units |
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1,520,194 |
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1,592,268 |
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1,050,636 |
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1,296,912 |
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