NOTE
17 - NET LOSS PER SHARE
As
the Business Combination has been accounted for as a reverse recapitalization, the consolidated financial statements of the merged entity
reflect the continuation of Legacy Stardust Power consolidated financial statements. Legacy Stardust Power equity has been retroactively
adjusted to the earliest period presented to reflect the legal capital of the legal acquirer, GPAC II. As a result, net loss per share
was also retrospectively adjusted for periods ended prior to the Business Combination. See Note 3 for details of this recapitalization.
The
following table sets forth the computation of the basic and diluted net loss per share:
SCHEDULE
OF BASIC AND DILUTED NET LOSS PER SHARE
| | |
Year ended
December 31,
2025 | | |
Year ended
December 31,
2024 | |
| | |
| | |
| |
| Numerator: | |
| | | |
| | |
| Net loss | |
$ | (15,723,636 | ) | |
$ | (23,753,863 | ) |
| Denominator: | |
| | | |
| | |
| Weighted average shares outstanding | |
| 7,385,168 | | |
| 4,282,194 | |
| Net loss per share, basic and diluted | |
$ | (2.13 | ) | |
$ | (5.55 | ) |
The
following potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to common stockholders
for the periods presented, because including them would have had an anti-dilutive effect:
SCHEDULE
OF ANTI-DILUTIVE EFFECT
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Unvested common stock – restricted shares (Note 8) | |
| - | | |
| 6,270 | |
| Restricted stock options | |
| 26,560 | | |
| 70,999 | |
| Restricted stock units | |
| 143,708 | | |
| 248,640 | |
| Performance stock units | |
| 50,658 | | |
| 50,658 | |
| Public warrants | |
| 486,413 | | |
| 486,413 | |
| Private placement warrants | |
| 556,666 | | |
| 556,666 | |
| Short term loan warrants | |
| 86,591 | | |
| - | |
| Private placement warrants | |
| 6,425 | | |
| - | |
| 2025 Convertible note shares | |
| 822,340 | | |
| - | |
| 2025 Convertible note warrants | |
| 411,245 | | |
| - | |
| * |
|
The
Sponsor Earnout Shares (as defined in the Business Combination Agreement) were not included for purposes of calculating the number
of diluted shares outstanding as of December 31, 2025, as the Sponsor earnout shares remain contingently forfeitable, as the conditions
have not been met |
Stardust
Power Inc. and Subsidiaries
NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS
|