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LOSS PER COMMON SHARE | 3 Months Ended
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Dec. 31, 2024
LOSS PER COMMON SHARE |
LOSS PER COMMON SHARE | H. LOSS PER COMMON SHARE Basic loss per share is computed by dividing net loss available to common stockholders 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, unvested common stock and unvested restricted stock are not included in the computation of diluted net loss per share if their effect would be anti-dilutive. The calculation of basic and diluted net loss per share includes 8,577,500 of the pre-funded warrants that remain outstanding as of December 31, 2024. The following table provides a reconciliation of the numerators and denominators of the basic and diluted loss per-share computations:
|  | Three Months |
|  | Ended December 31, |
|  | 2024 |  |  | 2023 |
Loss per share – basic and diluted |  |  |  |  |  |
Net loss available to common shareholders – basic and diluted |  | $ | (7,073,062 | ) |  | $ | (6,709,524 | )
Weighted average shares outstanding – basic and diluted |  |  | 65,325,855 |  |  |  | 48,470,600 |
Basic and diluted loss per common share |  | $ | (0.11 | ) |  | $ | (0.14 | )
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 securities because their inclusion would have been anti-dilutive as of December 31:
|  | 2024 |  |  | 2023 |
Options and Warrants |  |  | 17,837,177 |  |  |  | 15,839,028 |
Unvested Common Stock |  |  | 1,000,000 |  |  |  | - |
Unvested Restricted Stock |  |  | 144,250 |  |  |  | 147,250 |
Total |  |  | 18,981,427 |  |  |  | 15,986,278 |

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