Basic net loss per share excludes dilution and is computed by dividing net loss available to common shareholders by the weighted-average number of common shares and shares of redeemable restricted common stock outstanding for the period. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net loss of the Company.

The following is a reconciliation of the numerators and denominators of the net loss per share computations for the periods presented:

Nonvested shares which have been issued and were outstanding as of January 31, 2026 and 2025 totaling 274,533 and 405,297 were not included in the computation of basic and diluted net loss per share for the three months ended January 31, 2026 and 2025 (because to include such shares would have been antidilutive, or in other words, to do so would have reduced the net loss per share for those periods).