2025

2024

Numerator:

Net income (loss)

$

7,060,039

$

(6,315,587

)

Accrued dividends on Series F Preferred Stock

(67,651

)

(61,235

)

Deemed dividends

(1,056,332

)

(5,249,704

)

Numerator for basic EPS - net income (loss) available to common stockholders

5,936,056

(11,626,526

)

Effect of convertible securities and liability classified equity instrument:

Accrued dividends on Series F Preferred Stock

67,651

—

Interest expense on convertible note payable

18,802

—

Gain on change in fair value of warrant liabilities

(7,780,000

)

—

Numerator for diluted EPS - net loss available to common stockholders

$

(1,757,491

)

$

(11,626,526

)

Denominator:

Denominator for basic EPS - weighted average shares

11,649,682

164,915

Effect of dilutive securities:

Convertible note and accrued interest

572,054

—

Incremental shares for outstanding warrants

3,510,206

—

Convertible Series F Preferred Stock

4,392,119

—

Unvested restricted stock units

70,400

—

Denominator for diluted EPS - weighted average shares

20,194,461

164,915

Net income (loss) per common share - basic

$

0.51

$

(70.50

)

Net loss per common share - diluted

$

(0.09

)

$

(70.50

)