Lowell Farms Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2022

13. NET INCOME (LOSS) PER SHARE

Net income (loss) per share represents the net earnings/loss attributable to shareholders divided by the weighted average number of shares outstanding during the period on an as converted basis was as follows:

	Three Months Ended					Six Months Ended
	June 30,			June 30,		June 30,			June 30,
(in thousands except per share amounts)	2022			2021		2022			2021
Net income (loss)	$	(4,614	)	$	731	$	(8,671	)	$	(5,988	)

Net income (loss) per share:
Basic	$	(0.04	)	$	0.01	$	(0.08	)	$	(0.10	)
Diluted	$	(0.04	)	$	0.00	$	(0.08	)	$	(0.10	)
Weighted average shares outstanding:
Basic		112,026			71,021		111,981			61,956
Diluted		112,026			201,278		111,981			61,956

Weighted average potentially diluted shares (1):
Basic shares		112,026			71,021		111,981			61,956
Options		-			2,908		-			-
Warrants		-			60,767		-			-
Convertible debentures		-			64,796		-			-
Restricted stock units		-			1,786		-			-
Total weighted average potentially diluted shares:		112,026			201,278		111,981			61,956

(1) For the above net loss periods, the inclusion of options, warrants, convertible debentures and restricted stock units in the calculation of diluted earnings per share would be anti-dilutive, and accordingly, were excluded from the diluted loss per share calculation.