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NET LOSS PER COMMON SHARE
 12 Months Ended
Sep. 30, 2024
NET LOSS PER COMMON SHARE  
NET LOSS PER COMMON SHARE

14. NET LOSS PER COMMON SHARE

 

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the treasury stock method. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants and restricted stock are not included in the computation of diluted net loss per share if their effect would be anti-dilutive.

 

The calculation of basis and diluted net loss per share includes 1,450,000 of the pre-funded warrants that remain outstanding as of September 30, 2024.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

 

 

 

Year ended September 30,

 

 

 

2024

 

 

2023

 

Loss per share – basic and diluted

 

 

 

 

 

 

Net loss available to common shareholders – basic and diluted

 

$(27,579,921)

 

$(32,365,855)

Weighted average shares outstanding – basic and diluted

 

 

54,044,989

 

 

 

44,479,865

 

Basic and diluted loss per common share

 

$(0.51)

 

$(0.73)

 

In accordance with the contingently issuable shares guidance of ASC 260, Earnings Per Share, the calculation of diluted net loss per share excludes the following dilutive securities because their inclusion would have been anti-dilutive as of September 30:

 

 

 

2024

 

 

2023

 

Options and warrants

 

 

17,350,550

 

 

 

15,850,028

 

Unvested restricted stock

 

 

147,250

 

 

 

147,250

 

Total

 

 

17,497,800

 

 

 

15,997,278