| Schedule of Net Loss Attributable to Common Stockholders, Basic and Diluted EPS |
The details of our net loss attributable to common stockholders, basic and diluted EPS are set forth below:
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net loss |
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$ |
(6,475,862 |
) |
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$ |
(12,224,975 |
) |
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$ |
(6,935,760 |
) |
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$ |
(28,836,400 |
) |
Deemed dividend in connection with extinguishment of preferred stock through issuance of warrants |
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(1,573,312 |
) |
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— |
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(2,047,370 |
) |
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— |
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Reclassification of convertible preferred stock from mezzanine equity to liability |
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— |
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— |
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— |
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10,398,050 |
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Deemed dividend in connection with modification of pre-funded warrants |
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— |
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— |
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— |
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(3,076,380 |
) |
Net loss attributable to common stockholders |
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$ |
(8,049,174 |
) |
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$ |
(12,224,975 |
) |
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$ |
(8,983,130 |
) |
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$ |
(21,514,730 |
) |
Denominator: |
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Weighted-average shares outstanding — basic and diluted |
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199,852,017 |
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13,283,472 |
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159,264,585 |
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9,974,164 |
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Net loss per share — basic and diluted |
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$ |
(0.04 |
) |
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$ |
(0.92 |
) |
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$ |
(0.06 |
) |
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$ |
(2.16 |
) |
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| Schedule of Calculating Diluted Earnings Per Share |
The following securities were outstanding during the period but were not included in the computation of diluted EPS because their effect would have been anti-dilutive:
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Three and Six Months Ended |
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2026 |
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2025 |
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December 2025 YA Warrants |
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30,060,123 |
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— |
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February 2026 Offering Common Warrants |
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32,792,859 |
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— |
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February 2026 Offering Placement Agent Warrants |
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437,239 |
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— |
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2025 Offering Placement Agent Warrants |
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673,617 |
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— |
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Junior Note Warrants |
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172,209 |
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172,209 |
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Public Warrants |
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83,722 |
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83,722 |
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June 2023 Senior Note Warrants |
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67,177 |
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67,177 |
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August 2024 Warrants Issued with Junior Notes |
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3,987 |
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3,987 |
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If-converted Common Stock from convertible notes |
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22,086,794 |
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4,668,912 |
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Stock options outstanding |
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49,781 |
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27,157 |
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Orbit Settlement Shares |
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10,020,040 |
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— |
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If-converted Common Stock from Series A Preferred Stock(1) |
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10,081 |
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21,933 |
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Unvested restricted stock units |
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— |
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485 |
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Total |
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96,457,629 |
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5,045,581 |
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(1)Assumed that all shares of Series A Preferred Stock were converted into Common Stock at a conversion rate equal to $0.05 divided by $5.00, representing the maximum number of shares issuable to holders of Series A Preferred Stock.
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