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NET LOSS PER SHARE (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2025

Dec. 31, 2024

Schedule of Calculating Diluted Earnings Per Share

The following table sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per share:


	Three and Nine Months Ended September 30,
	2025		2024
Offering Common Stock Warrants		123,454,232		185,642
Offering Pre-Funded Warrants		31,660,075		859,315
Offering Placement Agent Warrants		3,361,344		417,770
Junior Note Warrants		859,315		335,210
Public Warrants		417,770		19,892
Pre-Funded Warrants		—		837,116
June 2023 Senior Note Warrants		335,210		—
August 2024 Warrants Issued with Junior Notes		19,892		—
Stock options outstanding		41,068		—
Unvested restricted stock units		1,612		6,620
If-converted Common Stock from Series A Preferred Stock(1)		109,445		119,445
If-converted Common Stock from convertible notes		37,551,994		32,932,138
Total		197,811,957		35,713,148

(1)

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.

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.