Petra Acquisition Inc. Just Filed Its Quarterly Report: Net Income (Loss) pe...

Net Income (Loss) per Common Share

 

Net
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 redemp tion value approximates fair value.

 

At
June 30, 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 loss per share of common stock since the exercise of the Warrants is contingent
upon the occurrence of future events. As of June 30, 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.

 














































































   Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2021   2021 
Common stock subject to possible redemption        
Numerator: Earnings allocable to common stock subject to possible redemption          
Interest earned on marketable securities held in Trust Account  $1,833   $3,645 
Net income attributable  $1,833   $3,645 
Denominator: Weighted Average common stock subject to possible redemption          
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption   7,278,151    7,278,151 
Basic and diluted net income per share, common stock subject to possible redemption  $0.00   $0.00 
           
Non-Redeemable common stock          
Numerator: Net Loss minus Net Earnings          
Net loss  $(1,331,144)  $(152,950)
Less: Net income allocable to common stock subject to possible redemption   (1,833)   (3,645)
Non-Redeemable Net Loss  $(1,332,977)  $(156,595)
Denominator: Weighted Average Non-redeemable Common Stock          
Basic and diluted weighted average shares outstanding, common stock   1,819,538    1,819,538 
Basic and diluted net loss per share, common stock  $(0.73)  $(0.09)

 

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

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