NOTE
8. NET LOSS PER SHARE
The
below table is a reconciliation of net loss to net loss attributable to common stockholders. Given the Company’s net loss, basic
and diluted net loss per share are the same.
SCHEDULE OF RECONCILIATION OF NET LOSS
| | |
2026 | | |
2025 | |
| | |
Three
months ended March 31, | |
| | |
2026 | | |
2025 | |
| Net loss | |
$ | (5,446,255 | ) | |
$ | (10,367,061 | ) |
| Series A cumulative preferred stock dividend | |
| (34,521 | ) | |
| (24,932 | ) |
| Series C cumulative preferred stock dividend | |
| (140,548 | ) | |
| (112,192 | ) |
| Preferred stock dividend | |
| (140,548 | ) | |
| (112,192 | ) |
| Net loss attributable to common stockholders | |
$ | (5,621,323 | ) | |
$ | (10,504,185 | ) |
The
Company excluded the following potential shares from the computation of diluted net loss per share because including them would have
had an anti-dilutive effect:
SCHEDULE OF ANTI-DILUTIVE NET LOSS PER SHARE
| | |
2026 | | |
2025 | |
| | |
March 31, | |
| | |
2026 | | |
2025 | |
| Outstanding RSUs (a) | |
| 38,930 | | |
| 69,366 | |
| Restricted Stock | |
| 571,979 | | |
| 386,979 | |
| Warrants | |
| 359,500 | | |
| 359,500 | |
| Earnout Shares | |
| 490,000 | | |
| 490,000 | |
| Total | |
| 1,460,409 | | |
| 1,305,844 | |
| (a) |
As of March 31, 2026 there
were an additional 8,425 RSUs that had vested but had not been legally settled into common stock and therefore were included in the
basic net income per share. |
The
above table excludes any potentially anti-dilutive shares as a result of the $14 million Purchase Option and the Additional Amount Purchase
Option (see Note 5). These are excluded as the number of shares issuable cannot be determined until the conditions for issuance are met
and the share prices are known upon exercise.
|