Income (Loss) per Common Share
income (loss) per share of common stock is computed by dividing net loss by the weighted average number of common shares outstanding
during the period. The Company applies the two-class method in calculating earnings per share. Accretion associated with the
redeemable shares of common stock is excluded from EPS as the redemption value approximates fair value.
March 31, 2021, the Company had outstanding warrants to purchase of up to 10,511,597 shares of common stock. The weighted average of
these shares was excluded from the calculation of diluted net income (loss) per share of common stock since the exercise of the Warrants
is contingent upon the occurrence of future events. As of March 31, 2021 and 2020, the Company did not have any dilutive securities or
other contracts that could, potentially, be exercised or converted into shares of common stock and then share in the earnings of the
Company. As a result, diluted net loss per share of common stock is the same as basic net loss per share of common stock for the period.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
Amendments to Articles of Incorporation or - Oct. 13, 2021
Lawrence M. Feis just provided an update on share ownership of Petra Acquisition Inc. - Oct. 12, 2021
Paul J. Glazer just provided an update on share ownership of Petra Acquisition Inc. - Oct. 12, 2021
Prospectuses and communications, business combinations - Oct. 4, 2021
Lawrence M. Feis just provided an update on share ownership of Petra Acquisition Inc. - Sept. 28, 2021