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NET LOSS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
NET LOSS PER SHARE

NOTE 9 – NET LOSS PER SHARE

 

Net income per common share is calculated in accordance with ASC Topic 260 – Earnings Per Share. Basic income per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. For the three and six months ended June 30, 2023 and 2022, respectively, the Company incurred a loss position and as such, the computation of diluted net loss per share does not include dilutive common stock equivalents in the weighted average shares outstanding, as they would be anti-dilutive.

 

 

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share are as follows:

 

 SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

   2023   2022   2023   2022 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2023   2022   2023   2022 
Warrants to purchase common stock   324,375    324,375    324,375    324,375 
Restricted stock units   2,668,247    1,098,100    1,449,591    1,063,410 
Convertible notes to exchange common stock   9,812,955    9,812,955    9,812,955    9,812,955 
Series A Preferred Stock   249,750    —    125,565    — 
Total dilutive shares   13,055,327    11,235,430    11,712,486    11,200,740 

 

The following table sets forth the computation of basic and diluted loss per share:

 

 SCHEDULE OF COMPUTATION OF BASIC AND DILUTED LOSS PER SHARE

   2023   2022   2023   2022 
  

Three Months Ended

June 30,

  

Six Months Ended

June 30,

 
   2023   2022   2023   2022 
       (As Restated)       (As Restated) 
Numerator:                
Net loss  $(19,133)  $(212,626)  $(26,368)  $(229,735)
Add: Series A Preferred Stock accretion to redemption value  $(2,121)  $—   $(2,121)  $— 
Net loss attributable to common stockholders  $(21,254)  $(212,626)  $(28,489)  $(229,735)
Denominator:                    
Weighted average common stock outstanding - basic and diluted   168,474,882    109,437,293    163,856,352    106,101,762 
Net loss attributable to common stockholders per common stock - basic and diluted  $(0.13)  $(1.94)  $(0.17)  $(2.17)