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NET LOSS PER SHARE
12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
NET LOSS PER SHARE

NOTE 13. NET LOSS PER SHARE

Diluted earnings per share ("EPS") includes the dilutive effect of Common Stock equivalents and is computed using the weighted-average number of Common Stock and Common Stock equivalents outstanding during the reporting period. Diluted EPS during the years ended December 31, 2023 and 2022 excluded Common Stock equivalents because the effect of their inclusion would be anti-dilutive or would decrease the reported loss per share. The following table sets forth securities outstanding that could potentially dilute the calculation of diluted earnings per share:

For the Year Ended December 31,

 

 

2023

 

 

2022

 

Stock options outstanding

 

7,547,750

 

 

3,133,270

 

Warrants to purchase Common Stock - liability classified

 

 

38,710,785

 

 

 

 

Warrants to purchase Common Stock - equity classified

 

 

13,408,430

 

 

 

2,061,545

 

Unvested restricted stock units

 

 

888,373

 

 

 

542,706

 

If-converted Common Stock from Series A Preferred Stock(1)

 

 

6,077,810

 

 

 

 

If-converted Common Stock from convertible notes

 

 

13,426,430

 

 

 

 

If-converted common shares from Legacy Nuburu convertible notes

 

 

 

 

 

864,868

 

Total

 

 

80,059,578

 

 

6,602,389

 

 

(1) Assumes that all shares of Series A Preferred Stock are converted into Common Stock at a conversion rate equal to $10.00 divided by $5.00, representing the maximum number of shares issuable to holders of Series A Preferred Stock.