| SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE |
The following table sets forth the components used in the computation of basic and diluted loss per share for the three months ended May 31, 2026 and 2025:
| | | | | | | | | | | | | | | | (In thousands, except share and per share data) | | Three Months Ended May 31, 2026 | | Three Months Ended May 31, 2025 | | Basic loss per share: | | | | | | Numerator: | | | | | | Net loss | | $ | (83,595) | | | $ | (623) | | | | | | | | | | | | | Net loss available to common stockholders - basic | | $ | (83,576) | | | $ | (623) | | | | | | | | Denominator: | | | | | | Weighted average common shares outstanding - basic | | 551,788,656 | | 2,006,202 | | Basic loss per common share | | $ | (0.15) | | | $ | (0.31) | | | | | | | | Diluted loss per share: | | | | | | Numerator: | | | | | | Net loss available to common stockholders - diluted | | $ | (83,576) | | | $ | (623) | | | Denominator: | | | | | | Weighted average common shares outstanding - basic | | 551,788,656 | | 2,006,202 | | Add: dilutive securities | | 0 | | 0 | | Warrants | | 0 | | 0 | | RSAs | | 0 | | 0 | | Weighted average common shares outstanding - diluted | | 551,788,656 | | 2,006,202 | | Diluted loss per common share | | $ | (0.15) | | | $ | (0.31) | |
The following table sets forth the components used in the computation of basic and diluted loss per share for the nine months ended May 31, 2026 and 2025:
| | | | | | | | | | | | | | | | (In thousands, except share and per share data) | | Nine Months Ended May 31, 2026 | | Nine Months Ended May 31, 2025 | | Basic loss per share: | | | | | | Numerator: | | | | | | Net loss | | $ | (9,106,103) | | | $ | (2,754) | | | | | | | | | | | | | Net loss available to common stockholders - basic | | $ | (9,106,084) | | | $ | (5,715) | | | | | | | | Denominator: | | | | | | Weighted average common shares outstanding - basic | | 443,947,604 | | 2,185,206 | | Basic loss per common share | | $ | (20.51) | | | $ | (2.62) | | | | | | | | Diluted loss per share: | | | | | | Numerator: | | | | | | Net loss available to common stockholders - diluted | | $ | (9,106,084) | | | $ | (5,715) | | | Denominator: | | | | | | Weighted average common shares outstanding - basic | | 443,947,604 | | 2,185,206 | | Add: dilutive securities | | 0 | | 0 | | Warrants | | 0 | | 0 | | RSAs | | 0 | | 0 | | Weighted average common shares outstanding - diluted | | 443,947,604 | | 2,185,206 | | Diluted loss per common share | | $ | (20.51) | | | $ | (2.62) | |
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| SUMMARY OF COMPUTATION OF DILUTED INCOME PER COMMON SHARE |
The following table summarizes the securities that were not included in the computation of diluted income per common share because their effect is anti-dilutive:
| | | | | | | | | | | | | | | | | Outstanding as of | | Outstanding as of | | | May 31, 2026 | | May 31, 2025 | C-3 Warrants(1) | | 1,280 | | 1,280 | Strategic Advisor Warrants(1) | | 2,820,774 | | 0 | Representative Warrants(1) | | 50,875 | | 0 | CVI Warrants(2) | | 10,435,430 | | 0 | Options(1) & (2) | | 359,124 | | 0 | Performance-based RSUs(3) | | 4,500,000 | | 0 | RSAs (1) | | 0 | | 135,360 |
| | | (1) 302,124 Options, RSAs ,Strategic and Representative Warrants were excluded due to a net loss position during the reporting periods | (2) C-3 Warrants, CVI Warrants and 57,000 Options were out-of-money during the three and nine months ended May 31, 2026 | (3) The performance-based RSUs have certain stock price, market cap and other market/performance conditions which were not met as of May 31, 2026. |
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