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LOSS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
LOSS PER SHARE

8. LOSS PER SHARE

 

A summary of the numerator and denominator of the basic and diluted loss per share is presented below (dollars in thousands except per share amounts):

 

   2024   2023   2024   2023 
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2024   2023   2024   2023 
                 
Numerator:                    
Net loss  $(540)   (7,300)  $(2,266)   (7,243)
                     
Denominator:                    
Weighted average shares - basic   6,121,020    5,870,234    6,045,542    5,866,083 
Weighted average shares - diluted   6,121,020    5,870,234    6,045,542    5,866,083 
Loss per share - basic  $(0.09)   (1.24)  $(0.37)   (1.23)
Loss per share - diluted  $(0.09)   (1.24)  $(0.37)   (1.23)

 

For the three-month periods ended September 30, 2024 and September 2023 and for the nine-month periods ended September 30, 2024 and September 2023, options to purchase 846,250 ordinary shares and 8,230,700 warrants to purchase an aggregate of 8,230,700 ordinary shares were anti-dilutive due to the net loss during these periods.

 

GAAP requires the Company to use the two-class method in computing basic loss per share since holders of the Company’s restricted stock have the right to share in dividends, if declared, equally with common shareholders. These participating securities effect the computation of both basic and diluted loss per share.