XML 32 R24.htm IDEA: XBRL DOCUMENT
v3.25.2

NET LOSS PER SHARE | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Earnings Per Share [Abstract] |  |
NET LOSS PER SHARE | NOTE 14. NET LOSS PER SHARE Contingently issuable shares are included in basic and diluted earnings per share (“EPS") only when all specified contingencies other than time have been satisfied. Shares issuable in connection with the SEPA, excluding the shares issuable in connection with the remaining 50% of the unpaid SEPA commitment fee, are excluded from basic EPS because issuances are contingent on meeting price thresholds, volume limitations, and regulatory caps. As those contingencies were not satisfied as of June 30, 2025, no shares issuable under the SEPA were included in the denominator of basic EPS for the three and six months ended June 30, 2025. Diluted EPS includes the dilutive effect of Common Stock equivalents and is computed using the weighted-average number of Common Stock and Common Stock equivalents outstanding during the reporting period. Diluted EPS for the three and six months ended June 30, 2025 and 2024 excluded Common Stock equivalents because the effect of their inclusion would be anti-dilutive or would decrease the reported loss per share. The following t able sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per share:
|  | Three and Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |
Stock options outstanding |  |  | 135,511 |  |  |  | 191,139 |
Junior Note Warrants |  |  | 859,315 |  |  |  | 550,000 |
Public Warrants |  |  | 417,770 |  |  |  | 417,770 |
June 2023 Senior Note Warrants |  |  | 335,210 |  |  |  | 335,210 |
August 2024 Warrants Issued with Junior Notes |  |  | 19,892 |  |  |  | — |
Pre-funded warrants |  |  | — |  |  |  | 171,706 |
Unvested restricted stock units |  |  | 2,418 |  |  |  | 10,275 |
If-converted Common Stock from Series A Preferred Stock(1) |  |  | 109,445 |  |  |  | 119,445 |
If-converted Common Stock from convertible notes |  |  | 23,297,870 |  |  |  | 265,042 |
Total |  |  | 25,177,431 |  |  |  | 2,060,587 |
Assumed that all shares of Series A Preferred Stock were converted into Common Stock at a conversion rate equal to $0.25 divided by $5.00, representing the maximum number of shares issuable to holders of Series A Preferred Stock. | NOTE 13. NET LOSS PER SHARE Diluted earnings per share ("EPS") includes the dilutive effect of Common Stock equivalents and is computed using the weighted-average number of Common Stock and Common Stock equivalents outstanding during the reporting period. Diluted EPS during the years ended December 31, 2024 and 2023 excluded Common Stock equivalents because the effect of their inclusion would be anti-dilutive or would decrease the reported loss per share. The following table sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per share:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Stock options outstanding |  |  | 218,430 |  |  |  | 188,865 |
Junior Note Warrants |  |  | 859,315 |  |  |  | 550,000 |
Public Warrants |  |  | 417,770 |  |  |  | 417,770 |
June 2023 Senior Note Warrants |  |  | 335,210 |  |  |  | 335,210 |
Pre-Funded Warrants |  |  | 837,116 |  |  |  | — |
August 2024 Warrants Issued with Junior Notes |  |  | 19,892 |  |  |  | — |
Unvested restricted stock units |  |  | 4,562 |  |  |  | 22,213 |
If-converted Common Stock from Series A Preferred Stock(1) |  |  | 119,445 |  |  |  | 151,945 |
If-converted Common Stock from convertible notes |  |  | 16,657,280 |  |  |  | 335,661 |
Total |  |  | 19,469,020 |  |  |  | 2,001,664 |
_______________ (1) Assumes that all shares of Series A Preferred Stock are converted into Common Stock at a conversion rate equal to $0.25 divided by $5.00 (adjusted by the Reverse Stock Split), representing the maximum number of shares issuable to holders of Series A Preferred Stock.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration