| Schedule of Earnings Per Share, Basic and Diluted |
| | | | | | | | | | | | | | | | | | | | | | | | | 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) | |
For purposes of diluted EPS, the more dilutive of the “treasury-stock method”, “if-converted” and “two-class” method must be applied when calculating dilutive EPS. | | | | | | | | | | | | | | | | | | | | | | | | | 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) | |
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| Schedule of Anti-Dilutive Shares Excluded From Diluted Net Loss Per Share |
The following potentially dilutive shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive. | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | | | | | | | | | | Convertible Notes (if converted) | | | | | | 58,022,515 | | | | Stock options | | | | | | 13,777 | | | | | RSUs | | | | | | 2,092,625 | | | | | | | | | | | | |
| | | | | | | | | | | | | 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 | |
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