
	For the Three Months Ended September 30,
	2024		2023
Net (loss) income for basic earnings per share	$	(384,133)	$	14,932
Effect of potentially dilutive shares:
Adjustment for interest on Convertible Notes	—		4,449
Adjustment for fair value gains on embedded derivatives for Convertible Notes	—		(27,398)
Net loss for diluted earnings per share	$	(384,133)	$	(8,017)

Weighted-average basic common shares outstanding	216,898,374		138,005,222
Dilutive effect of Convertible Notes	—		14,836,450
Dilutive effect of April and May Warrants	—		1,344,677
Dilutive effect of Restricted Stock Units	—		1,142,184
Dilutive effect of Stock Options	—		996,751
Weighted-average dilutive common shares outstanding	216,898,374		156,325,284

Basic net earnings per share (“EPS”) is calculated by dividing net earnings attributable to common stockholders by the weighted average number of shares of common stock outstanding for the applicable period. Diluted EPS is computed using the treasury stock method for warrants, stock options, and restricted stock units; and the if-converted method for convertible notes.

Generally, basic earnings per share (“EPS”) is computed by dividing earnings available to common shareholders by the weighted average number of shares of common stock outstanding during the period.The Preferred Series B is a participating security that does not have the obligation to share in the losses of the Company. Therefore, the more dilutive of the “if-converted” and “two-class” method must be applied when calculating EPS for the common shares. Management has elected to recognize changes in the redemption value of the Series B Preferred Stock. At each balance sheet date, the redemption value of the Series B Preferred Stock will be calculated, and if the redemption value is greater than the carrying value, the carrying value will be accreted to the redemption value. The accretion is recorded as a deemed dividend, which, in the absence of Retained earnings, reduces additional paid in capital and earnings available to common shareholders in computing basic and diluted EPS. Other potentially dilutive common shares and the related impact to earnings are considered when calculating EPS on a diluted basis.

Since the Company incurred a net loss for the three months ended September 30, 2024, as well as the nine months ended September 30, 2024 and 2023, the potential dilutive shares from stock options, restricted stock units, warrants, and convertible notes were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented. Therefore, basic and diluted EPS are computed using the same number of weighted-average shares for the three months ended September 30, 2024, as well as the nine months ended September 30, 2024 and 2023. The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the three months ended September 30, 2024, as well as the nine months ended September 30, 2024 and 2023:


	Three and Nine Months Ended September 30,	Nine Months Ended September 30,
	2024	2023
Stock options, RSUs, PRSUs	26,966,240	9,239,612
Public and private placement warrants	104,397,933	26,928,634
Convertible Notes (if converted)	17,782,644	14,836,450
Series B Preferred Stock	60,746,526	—