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Earnings Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings per share

9. Earnings per share

 

Basic earnings or loss per share is based on the weighted average number of common shares outstanding for the period. For the purposes of calculating diluted earnings per share, the number of shares outstanding has been adjusted for the dilutive effects of warrants.

 

Basic (loss) per share calculation  For Three Months Ended   For Nine Months Ended 
   September 30,   September 30,   September 30,   September 30, 
   2025   2024   2025   2024 
Net (loss) available to common shareholders  $(3,780,821)  $(4,832,169)  $(12,568,535)  $(19,561,531)
Weighted average common shares outstanding (basic)   21,463,415    21,378,890    21,416,970    19,951,016 
Basis (loss) per share from net loss  $(0.18)  $(0.23)  $(0.59)  $(0.98)
                     
Diluted (loss) per share calculation                    
Net (loss) available to common shareholders  $(3,780,821)  $(4,832,169)  $(12,568,535)  $(19,561,531)
Weighted average common shares outstanding (basic)   21,463,415    21,378,890    21,416,970    19,951,016 
Warrants   
—
    
—
    
—
    
—
 
Weighted average common shares outstanding (diluted)   21,463,415    21,378,890    21,416,970    19,951,016 
Diluted (loss) per share from net loss *  $(0.18)  $(0.23)   (0.59)  $(0.98)

 

*In periods where the Company has incurred a net loss, diluted earnings per share is based on the number of common shares issued and outstanding as including the effects of warrants would be anti-dilutive.