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Net Loss Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share
(12)
Net Loss Per Share

 

Net loss per share calculation information is as follows:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

2024

 

 

2025

 

 

2024

 

 

2025

 

Net loss

 

$

(3,560,575

)

 

$

(3,556,703

)

 

$

(3,828,626

)

 

$

(6,400,699

)

Weighted-average shares outstanding(1):

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

1,529,521

 

 

 

1,804,027

 

 

 

1,521,204

 

 

 

1,796,981

 

Effect of dilutive restricted stock units

 

—

 

 

—

 

 

—

 

 

—

 

Diluted

 

 

1,529,521

 

 

 

1,804,027

 

 

 

1,521,204

 

 

 

1,796,981

 

Net loss per Class A and Class B common share – basic and diluted(1)

 

$

(2.33

)

 

$

(1.97

)

 

$

(2.52

)

 

$

(3.56

)

(1) Weighted-average shares outstanding used in the computation of basic and diluted net loss per Class A and Class B common share as of September 30, 2024 have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split that occurred on September 23, 2024.

 

The Company excluded the effect of restricted stock units under the treasury stock method when reporting a net loss as the addition of shares was anti-dilutive. The number of shares excluded was 18,379 and 5,082 for the three months ended September 30, 2024 and 2025, respectively, and 23,588 and 5,339 for the nine months ended September 30, 2024 and 2025, respectively.