EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 11 – EARNINGS PER SHARE

The Company computes basic and diluted net income (loss) per share in accordance with ASC 260, Earnings Per Share. Basic EPS is calculated by dividing net income (loss) available to common stockholders by the weighted-average number of common shares outstanding during the period. The Company applies the two-class method as it has multiple classes of equity including the Series B 4% Convertible Preferred Stock, issued on June 16, 2025.

The Series B Preferred Stock is not a participating security and does not share in undistributed earnings beyond its fixed 4% cumulative dividend. Under the two-class method, income available to common shareholders is reduced by the cumulative preferred dividend, whether declared or not.

The Series B Preferred is convertible at the option of the holder into 1,000 shares of Common Stock per preferred share (plus accrued dividends), and is considered a potentially dilutive security. For the three and six months ended June 30, 2026 and 2025, the assumed conversion of the Series B Preferred Stock was anti-dilutive and excluded in the diluted EPS computation. As of June 30, 2026 and December 31, 2025, Series B Preferred Stock dividends accrued were $524,625 and $223,875, respectively.

NOTE 11 – EARNINGS PER SHARE (Continued)

The following table sets forth the calculation of earnings per share, with no dividends declared yet, for the three and six months ended June 30, 2026 and 2025, as presented in the accompanying Unaudited Condensed Consolidated Statements of Operations:

For the Three Months Ended June 30, 2026

		Class B				Common
Basic and diluted net loss per share of common stock
Numerator:
Allocation of net loss		$	(91,278	)		$	(17,795,676	)
Less : Series B preferred dividend		$	(780	)		$	(152,100	)
Net loss attributable to common stock holders - basic		$	(92,058	)		$	(17,947,776	)
Denominator:
Basic and diluted weighted average shares outstanding			304,990				59,461,443

Basic and diluted net loss per share of common stock		$	(0.30	)		$	(0.30	)

For the Six Months Ended June 30, 2026

		Class B				Common
Basic and diluted net loss per share of common stock
Numerator:
Allocation of net loss		$	(180,030	)		$	(31,463,269	)
Less : Series B preferred dividend		$	(1,711	)		$	(299,039	)
Net loss attributable to common stock holders - basic		$	(181,741	)		$	(31,762,308	)
Denominator:
Basic and diluted weighted average shares outstanding			304,990				53,302,185

Basic and diluted net loss per share of common stock		$	(0.60	)		$	(0.60	)

For the Three Months Ended June 30, 2025

		Class B				Common
Basic and diluted net loss per share of common stock
Numerator:
Allocation of net loss		$	(112,759	)		$	(11,270,724	)
Less : Series B preferred dividend		$	(158	)		$	(16,717	)
Net loss attributable to common stock holders - basic		$	(112,917	)		$	(11,287,441	)
Denominator:
Basic and diluted weighted average shares outstanding			379,990				37,984,523

Basic and diluted net loss per share of common stock		$	(0.30	)		$	(0.30	)

For the Six Months Ended June 30, 2025

		Class B				Common
Basic and diluted net loss per share of common stock
Numerator:
Allocation of net loss		$	(291,676	)		$	(29,155,537	)
Less : Series B preferred dividend		$	(158	)		$	(16,717	)
Net loss attributable to common stock holders - basic		$	(291,834	)		$	(29,172,254	)
Denominator:
Basic and diluted weighted average shares outstanding			379,990				37,984,523

Basic and diluted net loss per share of common stock		$	(0.77	)		$	(0.77	)