| Schedule of Calculating Diluted Earnings Per Share |
The following securities were outstanding during the period but were not included in the computation of diluted EPS because their effect would have been anti-dilutive:
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
December 2025 YA Warrants |
|
|
30,060,123 |
|
|
|
— |
|
February 2026 Offering Common Warrants |
|
|
32,792,859 |
|
|
|
— |
|
February 2026 Offering Placement Agent Warrants |
|
|
437,239 |
|
|
|
— |
|
2025 Offering Placement Agent Warrants |
|
|
673,617 |
|
|
|
— |
|
2025 Offering Common Stock Warrants |
|
|
377,460 |
|
|
|
— |
|
Junior Note Warrants |
|
|
172,209 |
|
|
|
172,209 |
|
Public Warrants |
|
|
83,722 |
|
|
|
83,722 |
|
June 2023 Senior Note Warrants |
|
|
67,177 |
|
|
|
67,177 |
|
August 2024 Warrants Issued with Junior Notes |
|
|
3,987 |
|
|
|
3,987 |
|
If-converted Common Stock from convertible notes |
|
|
23,300,646 |
|
|
|
— |
|
Stock options outstanding |
|
|
49,781 |
|
|
|
37,463 |
|
Orbit Settlement Shares |
|
|
10,020,040 |
|
|
|
— |
|
If-converted Common Stock from Series A Preferred Stock(1) |
|
|
13,467 |
|
|
|
23,937 |
|
Unvested restricted stock units |
|
|
— |
|
|
|
651 |
|
Total |
|
|
98,052,327 |
|
|
|
389,146 |
|
(1)Assumed that all shares of Series A Preferred Stock were converted into Common Stock at a conversion rate equal to $0.05 divided by $5.00, representing the maximum number of shares issuable to holders of Series A Preferred Stock.
|
The following securities were outstanding during the period but were not included in the computation of diluted EPS because their effect would have been anti-dilutive:
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
December 2025 YA Warrants |
|
|
30,060,123 |
|
|
|
— |
|
2025 Offering Placement Agent Warrants |
|
|
673,617 |
|
|
|
— |
|
If-converted Common Stock from convertible notes |
|
|
412,705 |
|
|
|
3,338,133 |
|
2025 Offering Common Stock Warrants |
|
|
377,460 |
|
|
|
— |
|
Junior Note Warrants |
|
|
172,209 |
|
|
|
172,208 |
|
If-converted Common Stock from Series A Preferred Stock(1) |
|
|
21,933 |
|
|
|
23,937 |
|
Public Warrants |
|
|
83,722 |
|
|
|
83,722 |
|
June 2023 Senior Note Warrants |
|
|
67,177 |
|
|
|
67,177 |
|
Stock options outstanding |
|
|
50,968 |
|
|
|
43,774 |
|
August 2024 Warrants Issued with Junior Notes |
|
|
3,987 |
|
|
|
3,987 |
|
Unvested restricted stock units |
|
|
— |
|
|
|
915 |
|
Total |
|
|
31,923,901 |
|
|
|
3,733,853 |
|
(1)Assumed that all shares of Series A Preferred Stock were converted into Common Stock at a conversion rate equal to $0.05 divided by $5.00, representing the maximum number of shares issuable to holders of Series A Preferred Stock.
|
| Schedule of Net Loss Attributable to Common Stockholders, Basic and Diluted EPS |
The details of our net loss attributable to common stockholders, basic and diluted EPS are set forth below:
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|
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Three months ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Numerator: |
|
|
|
|
|
|
Net loss |
|
$ |
(459,898 |
) |
|
$ |
(16,611,425 |
) |
Deemed dividend in connection with extinguishment of preferred stock through issuance of warrants |
|
|
(474,058 |
) |
|
|
— |
|
Reclassification of convertible preferred stock from mezzanine equity to liability |
|
|
— |
|
|
|
10,398,050 |
|
Deemed dividend in connection with modification of pre-funded warrants |
|
|
— |
|
|
|
(3,076,380 |
) |
Net loss attributable to common stockholders |
|
$ |
(933,956 |
) |
|
$ |
(9,289,755 |
) |
Denominator: |
|
|
|
|
|
|
Weighted-average shares outstanding — basic and diluted |
|
|
118,226,181 |
|
|
|
6,628,195 |
|
Net loss per share — basic and diluted |
|
$ |
(0.01 |
) |
|
$ |
(1.40 |
) |
|
|