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NET INCOME (LOSS) PER COMMON SHARE | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
NET INCOME (LOSS) PER COMMON SHARE |
6. | NET INCOME (LOSS) PER COMMON SHARE
The following table reconciles the weighted-average shares outstanding for basic and diluted net income (loss) per share for the three and six months ended June 30, 2026 and 2025: SCHEDULE OF RECONCILIATION OF WEIGHTED-AVERAGE SHARES OUTSTANDING FOR BASIC AND DILUTED NET LOSS PER SHARE
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
|  | ($ in thousands, except share and per share amounts) |
Basic and Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders |  | $ | 181 |  |  | $ | 1,537 |  |  | $ | (262 | ) |  | $ | 674 |
Weighted-average common shares used to compute basic and diluted income (loss) per share |  |  | 42,493,449 |  |  |  | 42,321,629 |  |  |  | 42,482,758 |  |  |  | 33,118,912 |
Net income (loss) attributable to common shareholders per share - basic and diluted |  | $ | 0.00 |  |  | $ | 0.04 |  |  | $ | (0.01 | ) |  | $ | 0.02 |
The net income (loss) attributable to common shareholders includes the preferred stock dividend amounts earned and declared for the three and six months ended June 30, 2026 of approximately $941,000 and $2.3 million, respectively, and the preferred stock dividend amounts earned and declared for the three and six months ended June 30, 2025 of approximately $1.4 million and $4.2 million, respectively. The dividend payable at June 30, 2026 and December 31, 2025 in the condensed consolidated balance sheets represents dividends declared, but not paid. For the three months ended June 30, 2026, 105,000 unvested restricted stock units (“RSUs”), as discussed in Note 14, were included in the computation of diluted earnings per share; however, their inclusion did not affect diluted earnings per share. For the three and six months ended June 30, 2025, unvested RSUs were also included in the computation earnings in the above calculation but did not affect diluted earnings per share. For the six months ended June 30, 2026, 105,000 unvested RSUs were excluded from the computation of diluted earnings per share as they were antidilutive.

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