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Loss per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Loss per Share

Note 10 – Loss per Share

 

All share and per-share data, including basic and diluted loss per share and weighted average shares outstanding, have been retroactively adjusted to reflect the 1-for-30 reverse stock split effected on January 1, 2026, as if the reverse stock split had occurred at the beginning of the earliest period presented.

 

The following table reconciles the numerator and the denominator used to calculate basic and diluted loss per share for years ended December 31, 2025 and 2024:

 

         
   Years Ended December 31, 
   2025   2024 
Numerator        
Net loss, as reported  $(46,895,936)  $(37,639,008)
           
Denominator          
Weighted average shares, basic   1,330,200    1,011,179 
Dilutive effect of stock options, warrants and RSUs   -    - 
Shares used to compute diluted loss per share   1,330,200    1,011,179 
           
Basic loss per share  $(35.25)  $(37.22)
Diluted loss per share  $(35.25)  $(37.22)

 

 

The computation of diluted loss per share for the years ended December 31, 2025 and December 31, 2024 also excludes approximately 47,000 shares of common stock and 15,500 warrants to purchase shares of common stock that are contingent upon the achievement of certain milestones.

 

As a result of incurring a net loss for the years ended December 31, 2025 and 2024, respectively, no potentially dilutive securities are included in the calculation of diluted earnings per share because such effect would be anti-dilutive. The Company had potentially dilutive securities as of December 31, 2025, consisting of: (i) 28,801 restricted stock units and (ii) 13,051 options and warrants, and potentially dilutive securities as of December 31, 2024, consisting of: (i) 49,189 restricted stock units and (ii) 17,738 options.