Basic earnings or loss per share is based on the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, the number of shares outstanding has been adjusted for the dilutive effects of warrants. | | | For Years Ended | | | | | December 31, | | | December 31, | | | | | 2025 | | | 2024 | | | | | | | | | | | Basic (loss) per share calculation | | | | | | | | Net (loss) available to common shareholders | | $ | (18,978,618 | ) | | $ | (25,327,198 | ) | | Weighted average common shares outstanding (basic) | | | 21,428,650 | | | | 20,309,934 | | | Basic (loss) per share from net loss | | $ | (0.89 | ) | | $ | (1.25 | ) | | Diluted (loss) per share calculation | | | | | | | | | | Net (loss) available to common shareholders | | $ | (18,978,618 | ) | | $ | (25,327,198 | ) | | Weighted average common shares outstanding (basic) | | | 21,428,650 | | | | 20,309,934 | | | Warrants | | | — | | | | — | | | Weighted average common shares outstanding (diluted) | | | 21,428,650 | | | | 20,309,934 | | | Diluted (loss) per share from net loss * | | $ | (0.89 | ) | | $ | (1.25 | ) | | * | In periods where the Company has incurred a net loss, diluted earnings per share is based on the number of common shares issued and outstanding as including the effects of warrants would be anti-dilutive. |
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