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NET LOSS PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2024

NET LOSS PER COMMON SHARE

Schedule of basic net loss per share and diluted net loss per share are equal

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Three Months Ended September 30,

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Nine Months Ended September 30,

(in thousands, except share data)

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2024

2023

2024

2023

Net loss - basic

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$

(2,842)

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$

(3,022)

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$

(7,637)

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$

(7,097)

Preferred stock dividends

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—

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—

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(7,094)

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—

Net loss - diluted

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$

(2,842)

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$

(3,022)

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$

(14,731)

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$

(7,097)

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Weighted average shares outstanding - basic*

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3,308,975

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1,701,166

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3,068,110

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1,219,450

Weighted average shares outstanding - diluted*

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3,308,975

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1,701,166

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3,068,110

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1,219,450

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Net loss per common share - basic*

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$

(0.86)

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$

(1.78)

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$

(2.49)

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$

(5.82)

Net loss per common share - diluted*

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$

(0.86)

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$

(1.78)

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$

(4.80)

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$

(5.82)

Dividend per common share

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$

-

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$

-

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(2.31)

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-

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* reflects a one-for-thirty-five (1:35) reverse stock split effected on September 21, 2023

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Schedule of potentially anti-dilutive securities were excluded from the computation of earnings per share

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​	​	​	​	​	​	​
​	​	September 30,
​		2024		​	2023
Common stock warrants	​	​	1,772,829	​	​	1,772,829
Assumed conversion of preferred stock	​	​	97,866	​	​	1,586,258
Stock options	​	​	632,546	​	​	70,657
Total	​	​	2,503,241	​	​	3,429,744
​	​	​	​	​	​	​

Schedule of reconciliation of the weighted average shares outstanding calculation

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Three Months Ended September 30,

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Nine Months Ended September 30,

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2024

2023

2024

2023

Weighted average shares issued

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1,759,618

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868,619

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1,527,473

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805,808

Weighted average pre-funded and penny warrants

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1,549,357

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832,547

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1,540,637

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413,641

Weighted average shares outstanding

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3,308,975

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1,701,166

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3,068,110

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1,219,450

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- References

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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

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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.

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-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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-Name Accounting Standards Codification
-Topic 260
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-Section 50
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