NOTE 9 – NET LOSS PER SHARE

Net loss per common share has been computed on the basis of the weighted-average number of common stock outstanding during the three and six months ended June 30, 2026 and 2025. Diluted loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities were exercised. We apply the treasury stock method in the calculation of diluted loss per share.

In periods that liability-classified warrants and options are in the money, the Company determines whether such instruments are dilutive by calculating the effect on loss per share after considering both (a) the adjustment to the numerator that would result from reversing the impact of the change in fair value recorded to net loss during the period and (b) the adjustment to the denominator that would result from the incremental shares outstanding, using the treasury stock method, in an assumed exercise of these instruments at the beginning of the year.

The following table reconciles net loss and the weighted average shares outstanding for the basic calculation to the net loss and the weighted average shares outstanding for the diluted calculation for the periods indicated:

The following potentially dilutive common shares related to outstanding securities for the three and six months ended June 30, 2026 and 2025 were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive: