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Net Income (Loss) Per Share of Common Stock (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted Income (Loss) Per Share

The following table sets forth the computation of basic and diluted income (loss) per share for common stockholders:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
Net income (loss)	$	22,513,205			$	(7,820,446	)		$	5,710,913			$	(20,982,894	)
Weighted average shares of common stock outstanding - basic		7,568,981				7,568,981				7,568,981				6,148,276
Dilutive effect		—				—				9,286				—
Weighted average shares of common stock outstanding - diluted		7,568,981				7,568,981				7,578,267				6,148,276
Net income (loss) per ordinary share:
Basic	$	2.97			$	(1.03	)		$	0.75			$	(3.41	)
Diluted	$	2.97			$	(1.03	)		$	0.75			$	(3.41	)

Securities Excluded from Calculation of Weighted Average Shares Outstanding as their Effect is Antidilutive

The following securities outstanding at September 30, 2024 and 2023 have been excluded from the calculation of weighted average shares outstanding as their effect on the calculation of income (loss) per share is antidilutive:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
Common stock options		1,060,109				735,929				1,010,377				735,929
Performance-based restricted stock units		228,209				228,209				228,209				228,209
Common stock warrants		5,099				5,099				5,099				5,099

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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