The following table provides the numerators and denominators used in computing basic and diluted net income (loss) per share for the three months ended June 30, 2026 and 2025. Generally, basic earnings per share (“EPS”) is computed by dividing earnings available to common shareholders by the weighted average number of shares of common stock outstanding during the period. In accordance with ASC 260, the DOE Warrants are included in basic EPS as the shares are issuable for little cash consideration. The SPA Warrant, Series B Preferred Stock, the warrants issued in 2023, May 2025 Convertible Notes and November 2025 Convertible Notes are participating securities that do not have the obligation to share in the losses of the Company. Therefore, the more dilutive of the “if-converted” and “two-class” method must be applied when calculating EPS for the common shares.

For purposes of basic EPS, the “two-class” method was applied and undistributed earnings were allocated to participating securities. These undistributed earnings were allocated based on each participating securities’ proportionate share of the total weighted-average shares outstanding.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator
Net (loss) income available	$	(406,268)	$	(248,778)	$	881,493	$	(153,645)
Less: Undistributed earnings allocated to participating securities	—		—		(315,328)		—
Net income available to common shareholders	$	(406,268)	$	(248,778)	$	566,165	$	(153,645)
Denominator
Weighted average shares outstanding - basic	339,799,132		237,741,328		339,920,441		231,616,540
Earnings per share:
Basic	$	(1.20)	$	(1.05)	$	1.67	$	(0.66)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator
Net (loss) income available	$	(406,268)	$	(248,778)	$	881,493	$	(153,645)
Effect of potentially dilutive shares:


Adjustment for change in fair value on SPA Warrant	—		—		(216,684)		—
Adjustment for change in fair value on April, May and December 2023 Warrants	—		—		(156,633)		—
Adjustment for remeasurement of Series B Preferred Stock	—		—		(648,320)		—
Net income (loss) for diluted earnings per share	$	(406,268)	$	(248,778)	$	(140,144)	$	(153,645)

Denominator
Weighted-average basic common shares outstanding	339,799,132		237,741,328		339,920,441		231,616,540

Dilutive effect of Series B Preferred Stock	—		—		116,311,460		—
Dilutive effect of warrants	—		—		64,431,326		—
Dilutive effect of RSUs	—		—		7,586,514		—
Dilutive effect of PRSUs	—		—		2,170,718		—
Dilutive effect of stock options	—		—		1,253,414		—
Weighted-average dilutive common shares outstanding	339,799,132		237,741,328		531,673,873		231,616,540
Earnings per share:

Diluted	$	(1.20)	$	(1.05)	$	(0.26)	$	(0.66)

Management has elected to recognize changes in the redemption value of the Series B Preferred Stock. At each balance sheet date, the redemption value of the Series B Preferred Stock will be calculated and remeasured to its redemption value. The remeasurement is recorded as a deemed dividend or contribution, which, in the absence of Retained earnings, is recognized within additional paid in capital and earnings available to common shareholders in computing basic and diluted EPS. Other potentially dilutive common shares and the related impact to earnings are considered when calculating EPS on a diluted basis.

Since the Company incurred a net loss for the three months ended June 30, 2026, and the three and six months ended June 30, 2025, respectively, the potential dilutive shares from stock options, restricted stock units, warrants, and convertible notes were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented. Therefore, basic and diluted EPS are computed using the same number of weighted-average shares for the three months ended June 30, 2026, and three and six months ended June 30, 2025. The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the three months ended June 30, 2026, and the three and six months ended June 30, 2025, respectively:


	Three Months Ended June 30,	Three and Six Months Ended June 30,
	2026	2025
Stock options, RSUs, PRSUs	15,957,943	20,324,972
Public and private placement warrants	72,838,740	95,111,718
Convertible Notes (if converted)	58,022,515	64,178,460
Series B Preferred Stock	116,311,460	116,311,460