Three Months Ended

Six Months Ended

June 30,

2025

2024

2025

2024

(in thousands, except per share data)

Net income (loss)

$

100

$

(307)

$

(705)

$

(1,048)

Less: Preferred stock dividends

(100)

(200)

Net income (loss) applicable to common stockholders

$

—

$

(407)

$

(905)

$

(1,248)

Weighted average common shares outstanding – basic

9,864

9,860

9,864

9,860

Dilutive potential common shares from convertible preferred stock and restricted stock units

—

Weighted average common shares outstanding – diluted

9,864

9,860

9,864

9,860

Earnings (loss) per common share, basic

$

—

$

(0.04)

$

(0.09)

$

(0.13)

Earnings (loss) per common share, diluted

$

—

$

(0.04)

$

(0.09)

$

(0.13)

Shares issuable upon conversion of Series A Convertible Preferred Stock excluded from calculation because their conversion would be anti-dilutive

600

Shares subject to restricted stock units excluded from calculation because their effect would be anti-dilutive

31