Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consists of the following:

 

 

    June 30,
2020
    December 31,
2019
 
Cash   $ 764,791     $ 884,115  
Money market fund     62,703,978       30,864,571  
Total cash and cash equivalents   $ 63,468,769     $ 31,748,686  
Schedule of Computation of Net Income (Loss) Per Share

Net income (loss) per share was computed as follows:

 

 

                         
   

Three Months Ended

June 30

   

Six Months Ended

June 30

 
    2020     2019     2020     2019  
                         
Net income (loss)   $ (38,105,323 )   $ 2,152,653     $ (67,762,123 )   $ (24,082,156 )
Weighted average number of common shares-basic     73,885,548       64,546,628       71,578,975       63,119,196  
Effect of dilutive securities           3,964,959              
Weighted average number of common shares-diluted     73,885,548       68,511,587       71,578,975       63,119,196  
Net income (loss) per share of common stock-basic   $ (0.52 )   $ 0.03     $ (0.95 )   $ (0.38 )
Net income (loss) per share of common stock-diluted   $ (0.52 )   $ 0.03     $ (0.95 )   $ (0.38 )
Antidilutive awards (1)           281,132             317,945  

 

(1) Certain stock-based compensation awards were not included in the calculation of net income per common share for the three months ended June 30, 2019 because their effect would have been antidilutive. For the three months ended June 30, 2020 and the six months ended June 30, 2020 and 2019, the effect of dilutive shares was not included in the computation of net loss per share because the Company had a net loss.