17. Net Income (Loss) Per Common Share

The Company has common and non-voting common stock outstanding. The non-voting common stock has the same economic rights as the common stock; therefore, earnings per share is presented on a combined basis. Basic income (loss) per share is computed using the weighted-average number of common shares and non-voting common shares outstanding for the period. Diluted income (loss) per share is computed without consideration to potentially dilutive instruments because the Company incurred losses which would make such instruments anti-dilutive. In addition, the change in the carrying value of the convertible preferred stock units are excluded from the calculation of diluted earnings per share. As a result of the cancellations to these instruments on the Effective Date of the Plan, the Company did not have any outstanding stock options, restricted stock units or warrants at December 31, 2023. There was no change in the carrying value of the convertible preferred stock units for the year ended December 31, 2023 as the carrying value equaled the redemption value.

Outstanding stock options and restricted stock units at December 31, 2022 totaled 0.7 million. As of December 31, 2022, the number of warrants excluded from diluted net loss per common share computations was approximately 3.8 million.