| NET LOSS PER SHARE |
Note 4 NET LOSS PER SHARE
The Company excluded the
effect of the 168
and 754
shares related to the Management Contingent Share Plan outstanding and not vested as of March 31, 2025 and 2024, respectively, from
the computation of basic and diluted net loss per share for the three months ended March 31, 2025 and 2024, as the conditions to
trigger the vesting of the such shares had not been satisfied as of March 31, 2025 and 2024. The Management
Contingent Share Plan is more fully described in Note 14 to the Company’s consolidated financial statements included in its
Annual Report on Form 10-K for the year ended December 31, 2024.
The following table sets forth the calculation of
basic and diluted loss per share for the periods presented based on the weighted average number of shares of the Company’s Class
A Common Stock outstanding during the three months ended March 31, 2025 and 2024:
SCHEDULE OF BASIC AND DILUTED NET LOSS AVAILABLE TO COMMON STOCKHOLDERS PER SHARE
| | |
2025 | | |
2024 | |
| Net loss attributable to FOXO | |
$ | (616,458 | ) | |
$ | (1,503,990 | ) |
| Deemed dividends from the issuances of preferred stock and the triggers of down round provisions and extension of Assumed Warrants | |
| (172,125 | ) | |
| (656,164 | ) |
| Net loss to common stockholders | |
| (788,583 | ) | |
| (2,160,154 | ) |
| Preferred stock dividends – undeclared | |
| (314,909 | ) | |
| - | |
Net loss to common stockholders, net of preferred stock dividends –
undeclared | |
$ | (1,103,492 | ) | |
$ | (2,160,154 | ) |
| Basic and diluted weighted average number of shares of Class A Common Stock | |
| 1,506,959 | | |
| 448,117 | |
| Basic and diluted net loss per share available to Class A Common Stock | |
$ | (0.73 | ) | |
$ | (4.82 | ) |
The following Class A Common Stock equivalents of
the Company have been excluded from the computation of diluted net loss per common share as the effect would be antidilutive and reduce
the net loss per share of Class A Common Stock:
SCHEDULE
OF COMPUTATION OF DILUTED NET LOSS PER COMMON SHARE AS EFFECT ANTIDILUTIVE AND REDUCE NET LOSS PER COMMON STOCK
| | |
March 31,
2025 | | |
March 31,
2024 | |
| Preferred stock | |
| 11,773,688 | | |
| - | |
| Public and private warrants | |
| 52,155 | | |
| 52,155 | |
| Assumed Warrants | |
| - | | |
| 166,594 | |
| Convertible notes payable | |
| 1,239,417 | | |
| - | |
| Finder’s warrants | |
| - | | |
| 3,744 | |
| Stock options | |
| 5,264 | | |
| 5,685 | |
| Total antidilutive shares | |
| 13,070,524 | | |
| 228,178 | |
At March 31, 2025, in addition to the common stock
equivalents listed in the table above, the Company has agreed to issue: (i) up to 334,850 additional shares of its Class A Common
Stock under the terms of a legal settlement as more fully discussed in Notes 14 and 16, (ii) an aggregate of 25,583 shares of its Class
A Common Stock under the terms of outstanding notes payable, which are discussed in Note 9, and (iii) 62,166 shares of its Class A Common
Stock for finder’s fees, which are discussed in Notes 9 and 12. See Note 16 regarding the Company’s Class A Common Stock and
common stock equivalents issued and issuable subsequent to March 31, 2025.
|