Computation of Earnings per Common Share

3 Months Ended

Mar. 31, 2025

Computation of Earnings per Common Share

Earnings per Common Share (Basic and Diluted)

Earnings per Common Share is calculated under the two-class method as the unvested restricted stock awards granted by the Company are considered participating securities due to the awards non-forfeitable rights to dividends paid on our common stock. Under the two-class method all earnings, distributed and undistributed, are allocated to common stock and participating securities based on their respective rights to receive dividends on our common stock.

Basic and diluted earnings per share are computed by dividing Net income attributable to common stockholders by the weighted-average common shares outstanding in the period. Diluted earnings per share is computed by giving effect to all potentially dilutive securities that are outstanding. The potential dilutive effect of our warrants and convertible preferred stock is determined using the if-converted method and the potential dilutive effect of our stock options and stock-based awards is

determined using the treasury stock method. Potentially dilutive common shares are excluded from the computation of diluted earnings per share in periods where the effect would be antidilutive.

The following table reflects basic and diluted weighted average shares and net income (loss) per share:


	Three Months Ended March 31,
	2025		2024 (1)
Net (loss) attributable to common stockholders	$	(108)	$	(335)
Less: Income allocated to participating securities	—		—
(Loss) attributable to common stock	$	(108)	$	(335)
Weighted average common shares outstanding	414,824,158		246,682,592
Basic (loss) per common share	$	(0.26)	$	(1.36)
(Loss) attributable to common stock	$	(108)	$	(335)
Weighted average common shares outstanding	414,824,158		246,682,592
Dilutive potential common shares	—		—
Total shares for diluted earnings per common share computation	414,824,158		246,682,592
Diluted (loss) per common share and common share equivalents	$	(0.26)	$	(1.36)

(1)On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 1 - Organization and Basis of Presentation.