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Net Income (Loss) per Share

9 Months Ended

Sep. 30, 2025

Net Income (Loss) per Share [Abstract]

Net Income (Loss) per Share

Note 9. Net Income (Loss) per Share

Basic income (loss) per share of common stock is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed similar to basic income (loss) per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock as of the first day of the period.

The calculation of the Company’s diluted number of shares for the three and nine months ended September 30, 2025 is as follows:

		For the three months ended September 30, 2025				For the nine months ended September 30, 2025
Weighted average shares - basic			15,442,342				13,700,375

Effect of dilutive potential common shares:
Convertible preferred stock			34				34
Warrants to purchase common stock			1,732,975				154,913

Restricted stock awards			49,706				47,628



Weighted average shares – diluted			17,223,257				13,902,950

Warrants to purchase 357,198 shares of common stock were outstanding during the three- and nine-months period ended September 30, 2025 that were not included in the computation of diluted EPS because the exercise price was greater than the average market price of the common shares. As of September 30, 2025, 253,670 warrants expire in February 2026 and 103,528 warrants expire in February 2027. All such warrants were still outstanding at the end of September 30, 2025.

Options to purchase 10,036,333 shares of common stock that were outstanding during the three and nine months period ended September 30, 2025 were not included in the computation of diluted EPS because either the exercise price was greater than the average market price of the common shares or those where the exercise price was below the average market price of the common shares were antidilutive. These options, which expire between August 2026 in February 2035, were still outstanding at the end of September 30, 2025.

Securities that could potentially dilute loss per share in the future that were not included in the computation of diluted loss per share for the nine months ended September 30, 2024 included 34 shares of convertible preferred stock, 444,796 warrants to purchase common stock, 40,000 shares of restricted stock awards, and 419,988 stock options totaling to 904,818 shares.