Net Loss per Common Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share reflects potential dilution from securities that could be converted into common stock, unless such inclusion would be anti-dilutive. At June 30, 2026, all potentially dilutive securities were anti-dilutive due to the net loss reported. In November 2025 and May 2026, the Company issued a convertible note that if converted on June 30, 2026 would have converted to 15,581,375 shares. There were other convertible notes outstanding as of June 30, 2026, however certain events that triggered, or allowed for, conversion had not yet occurred and the conversion price that the convertible notes would convert at if an event occurred was unknown; therefore, as of that date, the Company had no other potentially dilutive securities. At June 30, 2025, there were no events that allowed for conversion of the Company’s outstanding convertible notes and the conversion rate at which the convertible notes could be converted was not determinable, therefore there were no potentially dilutive securities at that date.