| Schedule of the reconciliation of basic and diluted loss per share |
The following table sets forth the reconciliation of basic and diluted loss per share for the three months ended March 31, 2026 and 2025 (in thousands except per share data):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Net loss |
|
$ |
(45,650 |
) |
|
$ |
(26,080 |
) |
Net loss attributable to noncontrolling interest |
|
$ |
(2,380 |
) |
|
$ |
— |
|
Net loss for basic and diluted loss per share available to common stockholders |
|
$ |
(43,270 |
) |
|
$ |
(26,080 |
) |
Weighted average number of shares outstanding |
|
|
6,891 |
|
|
|
5,065 |
|
Weighted average Common Stock warrants exercisable for nominal consideration |
|
|
— |
|
|
|
6,500 |
|
Weighted average number of shares, basic |
|
|
6,891 |
|
|
|
11,565 |
|
Weighted average number of shares, diluted |
|
|
6,891 |
|
|
|
11,565 |
|
Basic |
|
$ |
(6.28 |
) |
|
$ |
(2.26 |
) |
Diluted |
|
$ |
(6.28 |
) |
|
$ |
(2.26 |
) |
|
| Schedule of potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share |
The following potentially dilutive outstanding securities were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
March 31, |
|
|
|
2026 |
|
|
2025 |
|
Stock options |
|
|
1,494,241 |
|
|
|
1,022,353 |
|
Retainer Shares |
|
|
399,999 |
|
|
|
399,999 |
|
Public Warrants |
|
|
156,115 |
|
|
|
156,220 |
|
Private Warrants |
|
|
28,572 |
|
|
|
28,572 |
|
Shares issuable under the ESPP |
|
|
3,875 |
|
|
|
9,557 |
|
Shares issuable under the SIPA |
|
|
8,571 |
|
|
|
8,571 |
|
February 2024 BDO Firm Warrants |
|
|
108,686 |
|
|
|
108,686 |
|
February 2024 BDO Representative Warrants |
|
|
13,446 |
|
|
|
13,446 |
|
April 2024 RDO Common Warrants |
|
|
— |
|
|
|
428,572 |
|
April 2024 RDO Placement Agent Warrants |
|
|
34,286 |
|
|
|
34,286 |
|
Deposit Warrants |
|
|
3,250,000 |
|
|
|
3,250,000 |
|
October 2024 Noteholder Warrants |
|
|
107,142 |
|
|
|
214,284 |
|
October 2024 Placement Agent Warrants |
|
|
104,848 |
|
|
|
104,848 |
|
December 2024 RDO Common Warrants |
|
|
537,298 |
|
|
|
1,642,871 |
|
StockBlock Warrants |
|
|
131,472 |
|
|
|
131,472 |
|
Shares issuable under Tranche B Notes |
|
|
329,671 |
|
|
|
1,114,770 |
|
Exchange Warrants |
|
|
500,000 |
|
|
|
— |
|
September 2025 Warrants |
|
|
275,000 |
|
|
|
— |
|
November 2025 Warrants |
|
|
1,356,594 |
|
|
|
— |
|
November 2025 Placement Agent Warrants |
|
|
72,352 |
|
|
|
— |
|
February 2026 Warrants |
|
|
100,000 |
|
|
|
— |
|
Total |
|
|
9,012,168 |
|
|
|
8,668,507 |
|
|