Net Loss per Share of Common Stock

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Loss per Share of Common Stock

Note 4 – Net Loss per Share of Common Stock

Net Loss Per Share

Basic net loss per share is computed by dividing our net loss available to common shareholders by the weighted average number of shares of common stock outstanding (which excludes unvested RSAs and includes vested RSUs) during the period. Diluted loss per share is computed by dividing our net loss available to common shareholders by the diluted weighted average number of shares of common stock (which includes the potentially dilutive effect of stock options, unvested RSAs, unvested RSUs and warrants) during the period. Since we experienced a net loss for all periods presented, basic and diluted net loss per share are the same. As such, diluted loss per share for the three and nine months ended September 30, 2024 and 2023 excludes the impact of potentially dilutive common shares since those shares would have an anti-dilutive effect on net loss per share.

The computation of net loss per share for the three and nine months ended September 30, 2024 and 2023 was as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Basic and diluted net loss per share:
Net loss available to common stockholders	$	(3,384,703	)	$	(2,081,951	)	$	(9,121,410	)	$	(8,716,589	)
Weighted average number of common shares-basic and diluted		3,275,998			1,350,188			2,909,941			1,279,298
Basic and diluted net loss per share	$	(1.03	)	$	(1.54	)	$	(3.13	)	$	(6.81	)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Weighted-average number of common shares outstanding – basic and diluted		3,118,029		1,224,255		2,767,647		1,151,425
Weighted-average number of vested RSUs– basic and diluted		157,969		125,933		142,294		127,873
Weighted-average number of common shares-basic and diluted		3,275,998		1,350,188		2,909,941		1,279,298

Our diluted net loss per share for the three and nine months ended September 30, 2024 and 2023 excluded 2,018,880 and 289,936 of potentially dilutive common shares, respectively, related to outstanding stock options, warrants and unvested restricted stock since those shares would have had an anti-dilutive effect on net loss per share during the periods then ended.