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INCOME (LOSS) PER COMMON SHARE | 9 Months Ended
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Sep. 30, 2025
LOSS PER COMMON SHARE |
LOSS PER COMMON SHARE | NOTE 11. – INCOME (LOSS) PER COMMON SHARE The following table sets forth the computation of basic and diluted income (loss) per common share for the three and nine months ended September 30, 2025 and 2024, respectively. Outstanding warrants, options and RSUs were excluded from the calculation of diluted earnings per share as the effect was antidilutive to consolidated net loss. 371 pre-funded warrants are included in weighted average common shares outstanding – basic and diluted for purposes of calculating loss per common share for the three and nine months ended September 30, 2025 and 2024. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (in thousands, except for per-share data)
Net loss from continuing operations | ​ | $ | (3,763) | ​ | $ | (3,585) | ​ | $ | (10,333) | ​ | $ | (11,248)
Net income (loss) from discontinued operations | ​ | ​ | 9,252 | ​ | ​ | (172) | ​ | ​ | 8,087 | ​ | ​ | 640
Net income (loss) | ​ | ​ | 5,489 | ​ | ​ | (3,757) | ​ | ​ | (2,246) | ​ | ​ | (10,608)
Deemed dividends | ​ | ​ | — | ​ | ​ | (3,677) | ​ | ​ | — | ​ | ​ | (7,711)
Net income (loss) available to common shareholders | ​ | $ | 5,489 | ​ | $ | (7,434) | ​ | $ | (2,246) | ​ | $ | (18,319)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average common shares outstanding - Basic | ​ | ​ | 3,541,337 | ​ | ​ | 4,223 | ​ | ​ | 1,301,656 | ​ | ​ | 2,617
Dilutive effect of outstanding warrants, options and RSUs (1) | ​ | ​ | 6,476,494 | ​ | ​ | 2,959 | ​ | ​ | 2,138,206 | ​ | ​ | 2,053
Dilutive effect of series A convertible preferred shares | ​ | ​ | 1,870,657 | ​ | ​ | - | ​ | ​ | 630,405 | ​ | ​ | -
Denominator for diluted EPS | ​ | ​ | 11,888,488 | ​ | ​ | 7,182 | ​ | ​ | 4,070,266 | ​ | ​ | 4,670
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic loss per common share from continuing operations | ​ | $ | (1.06) | ​ | $ | (848.84) | ​ | $ | (7.94) | ​ | $ | (4,297.69)
Basic income (loss) per common share from discontinued operations | ​ | ​ | 2.61 | ​ | ​ | (40.77) | ​ | ​ | 6.21 | ​ | ​ | 244.44
Basic loss per common share from deemed dividends | ​ | ​ | — | ​ | ​ | (870.65) | ​ | ​ | — | ​ | ​ | (2,946.25)
Basic income (loss) per common share | ​ | $ | 1.55 | ​ | $ | (1,760.26) | ​ | $ | (1.73) | ​ | $ | (6,999.50)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Diluted loss per common share from continuing operations | ​ | $ | (1.06) | ​ | $ | (848.84) | ​ | $ | (7.94) | ​ | $ | (4,297.69)
Diluted income (loss) per common share from discontinued operations | ​ | ​ | 0.78 | ​ | ​ | (40.77) | ​ | ​ | 1.99 | ​ | ​ | 137.00
Diluted loss per common share from deemed dividends | ​ | ​ | — | ​ | ​ | (870.65) | ​ | ​ | — | ​ | ​ | (2,946.25)
Diluted income (loss) per common share | ​ | $ | (0.28) | ​ | $ | (1,760.26) | ​ | $ | (5.95) | ​ | $ | (7,106.94)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Anti-dilutive shares are as follows as of September 30: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Warrants (excluding pre-funded) | ​ | ​ | 11,422,790 | ​ | ​ | 1,119,424 | ​ | ​ | 11,422,790 | ​ | ​ | 1,119,424
Options | ​ | ​ | 25,861 | ​ | ​ | 2 | ​ | ​ | 25,861 | ​ | ​ | 2
Restricted stock units | ​ | ​ | 8,624 | ​ | ​ | 51 | ​ | ​ | 8,624 | ​ | ​ | 51
​ | ​ | ​ | 11,457,275 | ​ | ​ | 1,119,477 | ​ | ​ | 11,457,275 | ​ | ​ | 1,119,477
​
| (1) | See Note 10 “Capital Raise and Warrant for Common Stock” for description of Zero Exercise Price warrants
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