EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2026

Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock.

The Company has no participating securities outstanding during the periods presented. Therefore, the two-class method is not applicable.

The following table sets forth the computation of basic and diluted earnings (loss) per share for the three months ended March 31, 2026 and March 31, 2025:


	Three Months Ended March 31,
	2026		2025
Numerator:
Net income (loss)	$	206,583	$	(522,568)
Less: preferred stock dividends	(1,184,958)		(1,184,958)
Net income (loss) available to common stockholders	$	(978,375)	$	(1,707,526)

Denominator:
Weighted-average share of common stock outstanding - basic and diluted	52,400,158		52,309,887

Earnings (loss) per share:
Basic and diluted	$	(0.02)	$	(0.03)

There were no potentially dilutive securities outstanding during the periods presented that would have been dilutive, or any anti-dilutive effects requiring exclusion. As a result, basic and diluted earnings (loss) per share are the same.