
	Year ended December 31, 2025		Year ended December 31, 2024
Net income (loss)	$	30	$	(17,175)
Preferred stock dividends	—		1,092
Net income (loss) applicable to common stockholders	$	30	$	(18,267)
Weighted average common shares outstanding
Shares used in calculating basic loss per share	58,435,746		50,738,144
Stock options	—		—
Series C preferred	—		—
Shares used in calculating diluted loss per share	58,435,746		50,738,144
Income (Loss) allocated to common stockholders per common share
Basic	$	0.00	$	(0.36)
Diluted	$	0.00	$	(0.36)

Basic income (loss) per share of common stock is computed by dividing the net income (loss) applicable to common stockholders by the weighted average number of shares of common stock outstanding during the period. For the years ended December 31, 2025 and December 31, 2024, diluted income (loss) per share is computed on the same basis as there were no convertible securities outstanding.

When the Series C Preferred was outstanding during the year ended December 31, 2024, diluted loss per share was computed by dividing net loss by the weighted average number of shares outstanding assuming the conversion of the Series C Preferred into an aggregate of 16,500,000 shares of common stock under the if-converted method prior to its conversion in June 2024. Based on the applicable accounting guidance, Harbor was required to apply the “if-converted” method to the Series C Preferred to determine the weighted average number of shares outstanding for purposes of calculating the net loss per share of common stock. However, conversion was not assumed for purposes of computing diluted loss per share since the effect would have been anti-dilutive.

In January 2020, Harbor issued 4,000,000 shares of the Series C Preferred. The rights, preferences, privileges, qualifications, restrictions and limitations relating to the Series C Preferred are set forth in the Certificate of Designations, Preferences and Rights of Series C Convertible Redeemable Preferred Stock (“Certificate of Designations”), which Harbor filed with the Secretary of State of the State of Delaware.

Harbor accounted for its Series C Preferred in accordance with the guidance in ASC 480, Distinguishing Liabilities from Equity. Based on the applicable accounting guidance, preferred stock that is conditionally redeemable is classified as temporary or “mezzanine” equity. Accordingly, the Series C Preferred, which was subject to conditional redemption, was presented at redemption value as mezzanine equity outside of the stockholders’ equity section of the consolidated balance sheets.

On March 28, 2024, the board of directors declared aggregate dividends in the amount of $466 on the Series C Preferred, which was paid on March 29, 2024.

Each share of Series C Preferred was initially convertible at the election of the holders, at any time after issuance, into that number of shares of common stock determined by dividing the then applicable Series C Liquidation Amount (as defined

below) by $0.80, subject to certain adjustments set forth in the Certificate of Designations (“Conversion Price”). The Conversion Price was subsequently adjusted to be $0.15091.

Based on the applicable accounting guidance, Harbor was required to apply the “if-converted” method to the Series C Preferred to determine the weighted average number of shares outstanding for purposes of calculating the net income (loss) per share of common stock.

On June 28, 2024, 754,550 shares of Series C Preferred were converted into 16,500,000 shares of Harbor's common stock, and all of the 3,245,450 Conversion Cap Excess Shares were redeemed for $10,710. After giving effect to such conversion and redemption, no shares of Series C Preferred remained outstanding as of December 31, 2025.

As all of the Series C Preferred was converted or redeemed as of June 28, 2024, mezzanine equity is no longer presented on the consolidated balance sheets after that date.