
	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2026		2025		2026		2025
Numerator
Net income (loss) attributable to common shareholders - basic	$	(22,876,334)	$	12,118,574	$	(72,242,206)	$	10,296,097
Interest expense on convertible note	—		—		—		118,339
Net income (loss) attributable to common shareholders - diluted	(22,876,334)		$	12,118,574	(72,242,206)		$	10,414,436

Denominator
Weighted average shares of Common Stock outstanding - basic	31,740,634		16,983,356		31,680,098		15,500,358

Dilutive effect of stock options	—		695,616		—		663,209
Dilutive effect of warrants	—		220,150		—		—
Dilutive effect of convertible preferred stock	—		8,046,562		—		7,805,256
Dilutive effect of convertible note	—		541,108		—		270,554

Weighted average shares of Common Stock outstanding - diluted	31,740,634		26,486,792		31,680,098		24,239,377

Net income (loss) per share
Basic	$	(0.72)	$	0.71	$	(2.28)	$	0.66
Diluted	$	(0.72)	$	0.46	$	(2.28)	$	0.43

The table below sets forth all outstanding potentially dilutive securities which were not included in the calculation of diluted earnings per share because their impact would have been antidilutive.


	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2026	2025	2026	2025
Potentially dilutive securities:
Warrants	722,671	478,713	722,671	478,713
Stock options	1,182,034	—	1,182,034	—
Convertible note	1,494,673	—	794,703	—
Total	3,399,378	478,713	2,699,408	478,713