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Net Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2025
Net earnings (loss) per share:  
Net Income (Loss) Per Share

Note 12 – Net Income (Loss) Per Share

 

Basic net income (loss) per share is calculated by dividing net income (loss) available to common shareholders, adjusted for preferred stock discount accretion and dividends accrued on preferred stock, by the weighted-average number of common stock outstanding during the period excluding the effects of any potentially dilutive securities. Diluted net loss per share is computed similar to basic loss per share, except that the denominator is increased to include the number of additional common stock that would have been outstanding if potential shares of common stock had been issued if such additional common stock were dilutive.

 

As the Company had a net loss from continuing operations and discontinued operations for the three months ended March 31, 2025, the following presents dilutive and anti-dilutive securities. For continuing and discontinued operations, since there was a net loss, all securities presented below were excluded from weighted average shares outstanding. 

 

  

Three Months Ended

March 31, 2025

 
Anti-Dilutive:     
Regular warrants   25,568 
Stock options   6,924 
Series A-1 preferred stock   601 
Series B preferred stock   1,040 
Restricted Stock Units   12,501 
Total Anti-dilutive   46,634 

 

As the Company had a net loss from continuing operations and net income from discontinued operations for the three months ended March 31, 2024, the following presents dilutive and anti-dilutive securities. For continuing operations, since there was a net loss, all securities presented below were excluded from weighted average shares outstanding. For discontinued operations, dilutive securities presented below were included in the net income per share calculation and the anti-dilutive securities were excluded in weighted average shares outstanding:

 

  

Three Months Ended

March 31, 2024

 
Dilutive:     
Prefunded warrants   39,130 
MTS warrants   209 
Total Dilutive   39,339 
Anti-Dilutive:     
Stock options   22,081 
Series A-1 preferred stock   601 
Series B preferred stock   1,040 
MTS warrants   487 
Regular warrants   21,187 
Restricted Stock Units   18,750 
SportsHub warrants   252 
Total Anti-dilutive   64,398 

 

 

The calculation of the net income (loss) per share and weighted-average shares of the Company’s common stock outstanding for the periods presented are as follows:

 

         
  

For the Three Months Ended

March 31,

 
   2025   2024 
Net loss from continuing operations  $(916,732)  $(1,760,811)
Less: deemed dividends on warrant exchange   -    (44,619)
Net loss from continuing operations available to common stockholders   (916,732)   (1,805,430)
           
Net income (loss) from discontinued operations, net of tax, available to common stockholders   (58,169)   14,111,167 
           
Net income (loss) available to common stockholders  $(974,901)  $12,305,737 
           
Basic weighted-average shares for continuing and discontinued operations   531,226    259,140 
Diluted weighted average shares for discontinued operations   531,226    298,479 
           
Basic:          
Net (loss) from continuing operations per share  $(1.73)  $(6.97)
Net income (loss) from discontinued operations per share   (0.11)   54.45 
Net income (loss) per share  $(1.84)  $47.48 
           
Fully Diluted:          
Net (loss) from continuing operations per share  $(1.73)  $(6.97)
Net income (loss) from discontinued operations per share   (0.11)   47.28 
Net income (loss) per share  $(1.84)  $40.31