v3.26.1
Net Income (Loss) Per Share (as restated) (Tables)
3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Summary of Basic and Diluted Net Loss Per Common Share

The following table summarizes the computation of the basic and diluted net income (loss) per share:

 

Summary of Basic and Diluted Net Loss Per Common Share 

       
   Three Months Ended March 31, 
   2025   2026 
Numerator:          
Net income (loss)  $(2,196,875)  $3,472,480 
Equity dividend to investor       (1,488,472)
Net income (loss) attributable to Common Stockholders and holders of Participating Securities  $(2,196,875)  $1,984,008 
Allocation of undistributed earnings to Participating Securities   0    (728,299)
Net income (loss attributable to Common Stockholders  $(2,196,875)  $1,255,709 
Denominator:      
Weighted-average Common Stock outstanding   186,149    904,312 
Net income (loss) per share, basic and diluted  $(11.80)  $1.39 
Schedule of Allocation of Undistributed Earnings

The following table summarizes the outstanding warrants provision to participate in distribution of earnings. For the three months ended March 31, 2025 and 2026, these securities were excluded in the calculation for distribution of net loss but included in the allocation of undistributed earnings:

 

Schedule of Allocation of Undistributed Earnings

   2025   2026 
   March 31, 
   2025   2026 
November 2024 warrants   27,988     
Warrants from 2025 Debt Conversion   __   21,099 
November 2025 warrants       503,402 
Potentially participating warrants   27,988    524,501 
Summary of Outstanding Potentially Dilutive Securities

The following table summarizes the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive:

 

Summary of Outstanding Potentially Dilutive Securities 

       
   At March 31, 
   2025   2026 
Common stock options   7,396    7,355 
Common stock warrants   27,988    937,383 
Potentially dilutive securities   35,384    944,738