Three Months Ended

Nine Months Ended

September 30,

2025

2024

2025

2024

Net loss per share – Basic:

Numerator

Net loss

$

(7,262,658)

$

(12,638,357)

$

(19,019,785)

$

(18,725,716)

Denominator

Weighted-average common shares outstanding, basic

19,685,071

12,975,808

18,876,078

11,394,729

Basic net loss per common share

$

(0.37)

$

(0.97)

$

(1.01)

$

(1.64)

Net loss per share – Diluted:

Numerator

Net loss

$

(7,262,658)

$

(12,638,357)

$

(19,019,785)

$

(18,725,716)

Less: gain from change in fair value applicable to dilutive liability-classified warrants

—

(2,898,892)

Numerator for diluted net loss per share

$

(7,262,658)

$

(12,638,357)

$

(19,019,785)

$

(21,624,608)

Denominator

Denominator for basic net loss per share

19,685,071

12,975,808

18,876,078

11,394,729

Plus: incremental shares underlying “in the money” liability-classified warrants outstanding

—

66,569

Denominator for diluted net loss per share

19,685,071

12,975,808

18,876,078

11,461,298

Diluted net loss per common share

$

(0.37)

$

(0.97)

$

(1.01)

$

(1.89)