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NET LOSS PER SHARE OF COMMON STOCK
 9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]    
NET LOSS PER SHARE OF COMMON STOCK

NOTE 13 - NET LOSS PER SHARE OF COMMON STOCK

 

Basic and diluted net loss per share of Common Stock (“EPS”) is computed by dividing (i) net loss (the “Numerator”), by (ii) the weighted average number of shares of Common Stock outstanding during the period (the “Denominator”).

 

The calculation of diluted EPS is also required to include the dilutive effect, if any, of stock options, unvested restricted stock awards, convertible debt and Preferred Stock, and other Common Stock equivalents computed using the treasury stock method, in order to compute the weighted average number of shares outstanding. As of September 30, 2023 and 2022, all Common Stock equivalents were antidilutive.

 

Presented below are the calculations of the Numerators and the Denominators for basic and diluted EPS (dollars in thousands, except per share amounts):

  

   2023   2022   2023   2022 
   For the Three Months Ended September 30,   For the Nine Months Ended September 30, 
   2023   2022   2023   2022 
Calculation of Numerator:                    
Net loss  $(2,093)   (5,434)  $(9,324)   (17,756)
                     
Loss applicable to common stockholders  $(2,093)  $(5,434)  $(9,324)  $(17,756)
                     
Calculation of Denominator:                    
Weighted average number of shares of Common Stock outstanding   1,197,258    849,446    1,152,607    849,446 
                     
Net loss per share of Common Stock (basic and diluted)  $(1.75)  $(6.40)  $(8.09)  $(20.90)

 

As of September 30, 2023 and December 31, 2022, the following potential Common Stock equivalents were excluded from the computation of diluted net loss per share of Common Stock since the impact of inclusion was antidilutive (in thousands):

 

   September 30   December 31, 
   2023   2022 
 
Common stock warrants   496    145 
Common stock options   137    145 
Total   633    290 

 

 

NOTE 14 - NET LOSS PER SHARE OF COMMON STOCK

 

Basic and diluted net loss per share of Common Stock (“EPS”) is computed by dividing (i) net loss (the “Numerator”), by (ii) the weighted average number of shares of Common Stock outstanding during the period (the “Denominator”).

 

The calculation of diluted EPS is also required to include the dilutive effect, if any, of stock options, unvested restricted stock awards, convertible debt and Preferred Stock, and other Common Stock equivalents computed using the treasury stock method, in order to compute the weighted average number of shares outstanding. As of December 31, 2022 and 2021, all Common Stock equivalents were antidilutive.

 

 

Presented below are the calculations of the Numerators and the Denominators for basic and diluted EPS (dollars in thousands, except per share amounts):

 

SCHEDULE OF COMPUTATION OF ANTI-DILUTIVE WEIGHTED-AVERAGE SHARES OUTSTANDING 

   2022   2021 
Calculation of Numerator:        
Net loss  $(23,845)   (20,288)
           
Loss applicable to common stockholders  $(23,845)  $(20,288)
           
Calculation of Denominator:          
Weighted average number of shares of Common Stock outstanding   920,592    849,446 
           
Net loss per share of Common Stock (basic and diluted)  $(25.90)  $(23.88)

 

As of December 31, 2022 and 2021, the following potential Common Stock equivalents were excluded from the computation of diluted net loss per share of Common Stock since the impact of inclusion was antidilutive (in thousands):

 

 SCHEDULE OF OUTSTANDING COMMON STOCK SECURITIES NOT INCLUDED IN THE COMPUTATION OF DILUTED NET LOSS PER SHARE

   December 31,
2022		   December 31,
2021		 
Common stock warrants   145    102 
Common stock options   145    114 
Total   290    216