NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

NET LOSS PER SHARE

Note 4 NET LOSS PER SHARE

The Company excluded the effect of 13,334 and 398,700 Management Contingent Shares outstanding and not vested as of June 30, 2024 and 2023, respectively, from the computation of basic net loss per share as the conditions to trigger the vesting of such shares had not been satisfied during the respective periods. Shares issued to the Company’s former CEO pursuant to the Management Contingent Share Plan, which are under review to determine if such shares should be forfeited in accordance with such plan are included in net loss per share. See Note 15 for additional information.

The Company excluded the effect of the Public Warrants, the Private Placement Warrants, the Assumed Options, and the Finder’s warrants from the computation of diluted net loss per share for the three and six months ended June 30, 2024 and 2023, as applicable, as their inclusion would have been anti-dilutive because the Company was in a loss position for such periods.

The following table sets forth the calculation of basic and diluted net loss available to common stockholders per share for the periods presented based on the weighted average number of shares of the Company’s Class A Common Stock outstanding during the three and six months ended June 30, 2024 and 2023:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Net loss - basic and diluted	$	(2,163	)	$	(11,293	)	$	(3,667	)	$	(18,932	)
Deemed dividend related to the Exchange Offer and the extension of and trigger of down round provisions of Assumed Warrants		(310	)		(2,466	)		(966	)		(2,466	)
Net loss to common stockholders - basic and diluted	$	(2,473	)	$	(13,759	)	$	(4,633	)	$	(21,398	)
Basic and diluted weighted average number of Class A Common Stock		10,341			2,827			9,629			2,574
Basic and diluted net loss per share available to Class A Common Stock	$	(0.24	)	$	(4.87	)	$	(0.48	)	$	(8.31	)

The following Class A Common Stock equivalents of the Company have been excluded from the computation of diluted net loss available to common stockholders per share as the effect would be antidilutive (shares in actuals):

	June 30, 2024		June 30, 2023
Public and private warrants		1,037,875		1,037,875
Assumed Warrants		4,438,813		25,865
Stock options		109,935		223,988
Finder’s warrants		206,505		-
Total antidilutive shares		5,793,128		1,287,728