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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

NOTE 11 — EARNINGS (LOSS) PER SHARE

 

Basic loss per share (“EPS”) is computed by dividing net loss by the weighted-average number of common shares outstanding plus unexercised pre-funded warrants. Diluted EPS is computed based on the sum of the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of shares issuable from preferred stock, convertible debt, stock options and warrants.

 

   2025   2024   2025   2024 
  

For the Three Months Ended

September 30,

  

For the Nine Months Ended

September 30,

 
   2025   2024   2025   2024 
Net loss used for basic earnings per share  $(2,037,819)  $(1,821,627)  $(6,369,407)  $(5,490,972)
Basic weighted-average common shares outstanding   620,694    387,878    1,662,223    220,221 
Dilutive potential shares issuable from preferred stock, convertible debt, stock options and warrants   —    —    —    — 
Diluted weighted-average common shares outstanding   620,694    387,878    1,662,223    220,221 

 

The following potentially dilutive securities have been excluded from diluted net loss per share as of September 30, 2025 and 2024 because their effect would be anti-dilutive:

 

   As of September 30, 
   2025   2024 
Shares of common stock subject to outstanding options   1,570    6,740 
Shares of common stock subject to outstanding warrants (excluding pre-funded warrants)   1,175,449    90,023 
Shares of common stock subject to outstanding preferred stock   20,054,987    — 
Shares of common stock subject to outstanding convertible debt   58,771    246,003 
Total common stock equivalents   21,290,777    342,766