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Net Loss per Share of Common Stock
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Net Loss per Share of Common Stock

Note 5 – Net Loss per Share of Common Stock

 

Basic net loss per share is computed by dividing net loss by the weighted average common stock outstanding (which excludes unvested RSAs) and vested, but unissued RSUs. Diluted net loss per share is computed by dividing net loss by the diluted weighted average common stock outstanding, which includes potentially dilutive effect of stock options, unvested RSAs, unvested RSUs and warrants. The treasury-stock method is used to determine the dilutive effect of our stock options and warrants grants. Since we experienced a loss for both periods presented, basic and diluted net loss per share are the same and, as they would have an anti-dilutive impact on diluted net loss per share, any dilutive common shares outstanding were excluded from the computation shown below.

 

The computation of net loss per share for the year ended December 31, 2024 and 2023 was as follows:

 

   2024   2023 
Basic and diluted net loss per share:          
Net loss available to common shareholders  $(11,850,118)  $(11,121,520)
Weighted-average number of common shares-basic and diluted   3,059,906    1,311,572 
           
Basic and diluted net loss per share  $(3.87)  $(8.48)

 

   2024   2023 
Weighted-average number of common shares outstanding – basic and diluted   2,912,539    1,186,952 
Weighted-average number of vested RSUs– basic and diluted   147,367    124,619 
Weighted-average number of common shares-basic and diluted   3,059,906    1,311,572 

 

As described in Note 3, we issued various equity instruments during the years ended December 31, 2024 and 2023 which impact our EPS calculation. All granted RSAs are considered issued and outstanding for purposes of our financial statements. Unvested RSAs are included as dilutive securities, but are excluded from our denominator of basic EPS. At December 31, 2023, 1,250 RSAs were not vested and were excluded from the EPS calculation. We had no unvested RSAs at December 31, 2024. Vested RSUs are included in our computation of the weighted average shares for basic EPS and unvested RSUs are included as dilutive securities. At December 31, 2024 and 2023, 234,623 and 102,623 unvested RSUs were excluded from the EPS calculation.

 

The outstanding stock options, unvested RSAs, unvested RSUs and warrants to purchase common stock were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive for the periods presented below:

 

   2024   2023 
Stock options, unvested RSAs, unvested RSUs and purchase warrants   2,013,154    296,326