v3.25.3
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share for the three months ended September 30, 2025 and September 30, 2024:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income (loss) attributable to common shareholders

 

$

(10,935,484

)

 

$

(3,379,909

)

 

$

(17,693,050

)

 

$

465,821

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares

 

 

12,203,609

 

 

 

10,245,388

 

 

 

11,708,645

 

 

 

8,651,223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share

 

$

(0.90

)

 

$

(0.33

)

 

$

(1.51

)

 

$

0.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted weighted average shares

 

 

12,203,609

 

 

 

10,245,388

 

 

 

11,708,645

 

 

 

9,613,553

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share

 

$

(0.90

)

 

$

(0.33

)

 

$

(1.51

)

 

$

0.05

 

 

Information Related to Stock Options and Warrants Outstanding

The table below includes information related to stock options and warrants that were outstanding at the end of each respective the three and nine months ended September 30, 2025 and September 30, 2024. For periods in which the Company incurred a net loss, these options and warrants are not included in weighted average dilutive shares because their impact would be anti-dilutive. For the nine months ended September 30, 2025 and 2024, there were approximately 2,613,240 and 1,024,469 options with a strike price

greater than the average share price for the respective periods, which have been excluded from the weighted average shares because including them would have been antidilutive under the treasury method.

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Weighted average stock options

 

 

2,634,641

 

 

 

1,607,913

 

 

 

2,647,966

 

 

 

1,607,580

 

Weighted average price of exercisable stock options

 

$

6.20

 

 

$

8.00

 

 

$

6.20

 

 

$

8.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average warrants

 

 

190,500

 

 

 

190,500

 

 

 

190,500

 

 

 

974,839

 

Weighted average price of warrants

 

$

9.80

 

 

$

9.80

 

 

$

9.80

 

 

$

3.01

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average price of common stock

 

$

0.72

 

 

$

15.74

 

 

$

1.60

 

 

$

13.84