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NET INCOME (LOSS) PER SHARE
6 Months Ended
Jun. 30, 2025
NET INCOME (LOSS) PER SHARE  
NET INCOME (LOSS) PER SHARE

NOTE 13 NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is calculated using the treasury stock method for options and warrants and the if-converted method for the convertible senior unsecured notes. In applying the treasury stock method, instruments with an exercise price greater than the average quoted market price of the common shares for the period are not included in the calculation, as the impact would be anti-dilutive.

For periods in which the Company has reported a net loss, diluted net loss per share is computed in the same manner as basic net loss per share because potentially dilutive instruments, including the conversion option embedded in the convertible senior unsecured notes, are generally anti-dilutive during such periods. Convertible senior unsecured notes were excluded from diluted net income per share calculations for the periods ended June 30, 2025, as the incremental impact of conversion would be anti-dilutive.

For the three months ended June 30, 2025, the weighted average number of common shares was increased by 54,522 incremental shares to reflect the impact of dilutive instruments, while 314,580 options were anti-dilutive and excluded.

For the three months ended June 30, 2024, all 868,480 outstanding stock options and all 2,169,926 outstanding warrants were excluded from the computation of diluted loss per share.

For the six months ended June 30, 2025, all 827,347 outstanding stock options and all 167,849 outstanding warrants were anti-dilutive and excluded from the computation of diluted loss per share. Similarly, for the six months ended June 30, 2024, all 868,480 outstanding stock options and all 2,169,926 outstanding warrants were excluded.