The weighted-average number of common stock and common stock equivalent shares used in the calculation of basic and diluted net loss per share were as follows:


	Three Months Ended September 30, 2026		Three Months Ended September 30, 2025		Nine Months Ended September 30, 2026		Nine Months Ended September 30, 2025
Numerator:
Net loss	$	(13,063,478)	$	(3,244,834)	$	(24,196,214)	$	(13,158,560)

Denominator:
Average common shares outstanding – basic *	134,924,112		28,000,000		64,033,612		28,000,000
Average common shares outstanding – diluted	134,924,112		28,000,000		64,033,612		28,000,000

Net loss per common share – basic and diluted	$	(0.10)	$	(0.12)	$	(0.38)	$	(0.47)

*Weighted-average shares outstanding includes vested restricted stock awards and restricted stock units from the date of vesting.