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Loss per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Loss per Share | (3) Loss per Share Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options, warrants and unvested restricted stock units to the extent such shares are dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the three and nine months ended September 30, 2024 and 2023: Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share of Common Stock
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Basic loss per share attributable to common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (2,218,818 | ) |  | $ | (6,650,970 | ) |  | $ | (1,773,831 | ) |  | $ | (14,069,829 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted avg. common shares outstanding |  |  | 5,347,940 |  |  |  | 5,292,058 |  |  |  | 5,335,941 |  |  |  | 5,254,116 |
Basic earnings loss per share attributable to common stock |  | $ | (0.41 | ) |  | $ | (1.26 | ) |  | $ | (0.33 | ) |  | $ | (2.68 | )
Diluted loss per share attributable to common stock: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (2,218,818 | ) |  | $ | (6,650,970 | ) |  | $ | (1,773,831 | ) |  | $ | (14,069,829 | )
Effect of dilutive securities on net loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock warrants |  |  | 138,081 |  |  |  | 74,827 |  |  |  | 13,580 |  |  |  | 200,416 |
Total net loss for purpose of calculating diluted loss per common share |  | $ | (2,356,899 | ) |  | $ | (6,725,797 | ) |  | $ | (1,787,411 | ) |  | $ | (14,270,245 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted avg. common shares outstanding |  |  | 5,347,940 |  |  |  | 5,292,058 |  |  |  | 5,335,941 |  |  |  | 5,254,116 |
Weighted average effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Restricted stock units |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Dilutive securities |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total shares for purpose of calculating diluted net loss per common share |  |  | 5,347,940 |  |  |  | 5,292,058 |  |  |  | 5,335,941 |  |  |  | 5,254,116 |
Diluted loss per share attributable to common stock |  | $ | (0.44 | ) |  | $ | (1.27 | ) |  | $ | (0.33 | ) |  | $ | (2.72 | )
The computation of diluted loss per share for the three and nine months ended September 30, 2024 and 2023 does not include the following stock options and warrants to purchase shares of common stock or unvested restricted stock units in the computation of diluted loss per share because these instruments were antidilutive: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
|  | For the Three and Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
Stock options |  |  | 286,484 |  |  |  | 264,069 |
Unvested restricted stock units |  |  | 21,762 |  |  |  | - |
Warrants |  |  | 49,333 |  |  |  | 49,433 |

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