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Loss per Share
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Loss per Share

13. Loss per Share

 

For the three and six months ended June 30, 2024, loss per share is $0.15 and $0.33 (basic and diluted) compared to the three and six months ended June 30, 2023, of $0.22 and $0.43 (basic and diluted) using the weighted average number of shares of 25,958,628 and 23,573,349 (basic and diluted) as of June 30, 2024 and 17,165,533 and 17,162,471 (basic and diluted) as of June 30, 2023, respectively.

 

There are 299,000,000 shares authorized with 28,520,704 and 17,413,810 shares issued and outstanding, as at June 30, 2024 and 2023, respectively. The computation of loss per share is based on the weighted average number of shares outstanding during the period in accordance with ASC Topic No. 260, “Earnings Per Share.” Shares underlying the Company’s outstanding warrants and convertible promissory notes were excluded due to the anti-dilutive effect they would have on the computation. As of June 30, 2024, the Company has 24,590,188  warrants convertible   to 24,890,188 common shares, 357,018 restricted stock to be issued, and 5,462,256 stock options exercisable for 5,462,256 common shares for a total underlying common shares of 30,709,462. As of June 30, 2023, the Company has 3,939,924 warrants convertible to 4,239,924 common shares, 1,215,212 restricted stock to be issued, 300,000 performance stock units and 3,270,106 stock options exercisable for 3,270,106 common shares for a total underlying common shares of 9,025,242.