| NET LOSS PER SHARE |
NOTE
8. NET LOSS PER SHARE
The
below table is a reconciliation of net loss to net loss attributable to common stockholders. Given the Company’s net loss, basic
and diluted net loss per share are the same.
SCHEDULE OF RECONCILIATION OF NET LOSS
| | |
2026 | | |
2025 | |
| | |
Three months ended June 30, | |
| | |
2026 | | |
2025 | |
| Net loss | |
$ | (5,761,940 | ) | |
$ | (5,503,979 | ) |
| Series A preferred stock cumulative dividend | |
| (19,562 | ) | |
| (24,931 | ) |
| Series C preferred stock cumulative dividend | |
| (58,274 | ) | |
| (112,192 | ) |
| Net loss attributable to common stockholders | |
$ | (5,839,776 | ) | |
$ | (5,641,102 | ) |
| | |
2026 | | |
2025 | |
| | |
Six months ended June 30, | |
| | |
2026 | | |
2025 | |
| Net loss | |
$ | (11,208,195 | ) | |
$ | (15,871,040 | ) |
| Series A preferred stock cumulative dividend | |
| (69,425 | ) | |
| (49,863 | ) |
| Series C preferred stock cumulative dividend | |
| (282,658 | ) | |
| (224,384 | ) |
| Preferred stock dividend | |
| (282,658 | ) | |
| (224,384 | ) |
| Net loss attributable to common stockholders | |
$ | (11,560,278 | ) | |
$ | (16,145,287 | ) |
As of June 30, 2026, there are 375,000 Pre-funded Warrants included in the basic and diluted net loss per share calculations.
The
Company excluded the following potential shares from the computation of diluted net loss per share because including them would have
had an anti-dilutive effect:
SCHEDULE OF ANTI-DILUTIVE NET LOSS PER SHARE
| | |
2026 | | |
2025 | |
| | |
June 30, | |
| | |
2026 | | |
2025 | |
| Outstanding RSUs (a) | |
| 73,736 | | |
| 71,249 | |
| Restricted Stock | |
| 571,979 | | |
| 571,979 | |
| Warrants | |
| 359,500 | | |
| 359,500 | |
| Earnout Shares | |
| 490,000 | | |
| 490,000 | |
| Total | |
| 1,495,215 | | |
| 1,492,728 | |
| (a) |
As
of June 30, 2026 there were an additional 13,712 RSUs that had vested but had not been legally settled into common stock and therefore
were included in the basic net loss per share. |
The
above table excludes any potentially anti-dilutive shares as a result of the $14 million Purchase Option and the Additional Amount Purchase
Option (see Note 5). These are excluded as the number of shares issuable cannot be determined until the conditions for issuance are met
and the share prices are known upon exercise.
|