| Schedule of calculation of basic and diluted earnings/(loss) per share |
The Company calculates basic and diluted earnings/(loss) per share as follows:
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For the six-month period
ended June 30, 2025 |
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For the six-month period
ended June 30, 2026 |
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Basic EPS |
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Diluted EPS |
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Basic EPS |
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Diluted EPS |
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Numerator |
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Net income |
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2,588,391 |
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2,588,391 |
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13,183,829 |
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13,183,829 |
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Less: Cumulative dividends on Series A Perpetual Convertible Preferred Shares |
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(377,083 |
) |
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(377,083 |
) |
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(377,083 |
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(377,083 |
) |
Less: Down round deemed dividend on Series A Perpetual Convertible Preferred Shares |
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(1,818,000 |
) |
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(1,818,000 |
) |
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(5,118,000 |
) |
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(5,118,000 |
) |
Less: Undistributed earnings allocated to non-vested shares |
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(11,654 |
) |
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(11,654 |
) |
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(967 |
) |
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(967 |
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Series A Perpetual Convertible Preferred Shares |
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— |
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— |
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— |
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5,495,083 |
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Change in fair value of warrants |
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— |
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(523,582 |
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— |
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— |
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Net income/(loss) attributable to common shareholders, basic and diluted |
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381,654 |
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(141,928 |
) |
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7,687,779 |
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13,182,862 |
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Weighted average number of shares outstanding, basic |
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131 |
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131 |
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15,904 |
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15,904 |
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Series A Perpetual Convertible Preferred Shares (Note 8) |
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— |
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— |
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— |
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65,175 |
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— |
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981 |
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— |
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— |
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Effect of dilutive shares |
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— |
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981 |
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— |
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65,175 |
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Weighted average number of shares outstanding, diluted |
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— |
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1,112 |
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— |
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81,079 |
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Earnings/(loss) per share |
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2,913.39 |
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(127.62 |
) |
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483.39 |
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162.59 |
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