NET LOSS PER SHARE OF COMMON STOCK

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

NET LOSS PER SHARE OF COMMON STOCK

NOTE 13 - NET LOSS PER SHARE OF COMMON STOCK

Basic and diluted net loss per share of Common Stock (“EPS”) is computed by dividing (i) net loss (the “Numerator”), by (ii) the weighted average number of shares of Common Stock outstanding during the period (the “Denominator”).

The calculation of diluted EPS is also required to include the dilutive effect, if any, of stock options, unvested restricted stock awards, convertible debt and Preferred Stock, and other Common Stock equivalents computed using the treasury stock method, in order to compute the weighted average number of shares outstanding. As of September 30, 2023 and 2022, all Common Stock equivalents were antidilutive.

Presented below are the calculations of the Numerators and the Denominators for basic and diluted EPS (dollars in thousands, except per share amounts):

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2023			2022			2023			2022
Calculation of Numerator:
Net loss	$	(2,093	)		(5,434	)	$	(9,324	)		(17,756	)
Loss applicable to common stockholders	$	(2,093	)	$	(5,434	)	$	(9,324	)	$	(17,756	)
Calculation of Denominator:
Weighted average number of shares of Common Stock outstanding		1,197,258			849,446			1,152,607			849,446
Net loss per share of Common Stock (basic and diluted)	$	(1.75	)	$	(6.40	)	$	(8.09	)	$	(20.90	)

As of September 30, 2023 and December 31, 2022, the following potential Common Stock equivalents were excluded from the computation of diluted net loss per share of Common Stock since the impact of inclusion was antidilutive (in thousands):

	September 30		December 31,
	2023		2022
Common stock warrants		496		145
Common stock options		137		145
Total		633		289