| Schedule of basic and diluted net income (loss) per common share |
The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):
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For the Period
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from August
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20, 2018
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Year
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(inception)
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Ended
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Through
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December 31,
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December 31,
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2019
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2018
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Redeemable Common Stock
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Numerator: Earnings allocable to Redeemable Common Stock
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Interest Income
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$
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3,164,817
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$
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—
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Income and Franchise Tax
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$
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(810,032)
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$
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—
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Net Earnings
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$
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2,354,785
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$
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—
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Denominator: Weighted Average Redeemable Common Stock
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Redeemable Common Stock, Basic and Diluted
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17,250,000
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—
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Earnings/Basic and Diluted Redeemable Common Stock
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$
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0.14
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—
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Non-Redeemable Common Stock
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Numerator: Net Income minus Redeemable Net Earnings
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Net Income (Loss)
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$
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963,510
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$
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(451)
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Redeemable Net Earnings
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$
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(2,354,785)
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$
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—
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Non-Redeemable Net Loss
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$
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(1,391,275)
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$
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(451)
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Denominator: Weighted Average Non-Redeemable Common Stock
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Non-Redeemable Common Stock, Basic and Diluted (1)
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4,947,438
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3,750,000
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Loss/Basic and Diluted Non-Redeemable Common Stock
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$
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(0.28)
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$
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(0.00)
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Note: As of December 31, 2019 and 2018, basic and diluted shares are the same as there are no securities that are dilutive to the Monocle’s common stockholders.
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(1)
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The weighted average non-redeemable common stock for the year ended December 31, 2019 includes the effect of 717,500 Private Units, which were issued in conjunction with the initial public offering on February 11, 2019.
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