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EARNINGS PER SHARE
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
(Loss)/Earnings per share:    
EARNINGS PER SHARE

20. EARNINGS PER SHARE

 

Table 20.1: Details of Basic and Dilutive (Loss)/Earnings Per Share

 

 

   September 30, 2025   September 30, 2024   September 30, 2025   September 30, 2024 
   For the Three Months Ended   For the Nine Months Ended 
   September 30, 2025   September 30, 2024   September 30, 2025   September 30, 2024 
Basic net (loss)/income per share:                
Numerator                
Net (loss)/income including non-controlling interests  $(3,240,017)  $116,093   $(18,778,917)  $109,712 
Less: Net loss attributable to non-controlling interest   (116,700)   -    (218,359)   - 
Net (loss)/income attributable to common stockholders - basic   (3,123,317)   116,093    (18,560,558)   109,712 
Denominator                    
Weighted average shares outstanding - basic   1,965,285    498,941    1,252,543    498,941 
Basic net (loss)/income per share attributable to common stockholders  $(1.59)  $0.23   $(14.82)  $0.22 
Diluted net (loss)/income per share:                    
Numerator                    
Net (loss)/income attributable to common stockholders - basic  $(3,123,317)  $116,093   $(18,560,558)  $109,712 
Add back interest for subordinated convertible promissory note   2,500    2,500    40,833    7,500 
Net (loss)/income attributable to common stockholders - diluted  $(3,120,817)  $118,593   $(18,519,725)  $117,212 
Denominator                    
Weighted average shares outstanding - basic   1,965,285    498,941    1,252,543    498,941 
Weighted-average effect of potentially dilutive securities:                    
Conversion of subordinated convertible promissory note   3,333    57,884    3,333    57,884 
Conversion of Series A Convertible Preferred Stock   -    70,203    -    70,203 
Conversion of Series B Convertible Preferred Stock   -    200,000    -    175,203 
Exercise of investor and placement agent warrants   -    292,806    -    292,806 
Weighted average shares outstanding - diluted   1,968,618    1,119,834    1,255,876    1,095,037 
Dilutive net (loss)/income per share attributable to common stockholders  $(1.59)  $0.11   $(14.75)  $0.11 

 

Table 20.2: Details of Potentially Dilutive Effect of Securities Excluded from Dilutive EPS due to Anti- Dilutive Effect

 

 

  

September

30, 2025

  

September

30, 2024

  

September

30, 2025

  

September

30, 2024

 
   For the Three Months Ended   For the Nine Months Ended 
  

September

30, 2025

  

September

30, 2024

  

September

30, 2025

  

September

30, 2024

 
Conversion of Series A Convertible Preferred Stock   151,126    -    114,388    70,203 
Conversion of Series B Convertible Preferred Stock   45    -    56,601    162,637 
Conversion of Series C Convertible Preferred Stock   1,202    -    1,202    - 
Conversion of Series D Convertible Preferred Stock   5,000    -    15,264    - 
Conversion of Series E Convertible Preferred Stock   2    -    1    - 
Exercise of investor and placement agent warrants   613,255    -    491,652    315,028 

 

NOTE 16 — EARNINGS PER SHARE 

 

The components of basic and diluted Earnings Per Share (“EPS”) were as follows:

 

   2024   2023 
   Years ended 
   December 31, 
   2024   2023 
         
Basic Earnings (Loss) Per Share Numerator          
Net Income (Loss)  $1,229,601   $(2,097,013)
Income (Loss) Available to Common Stockholders   1,229,601    (2,097,013)
           
Diluted Earnings (Loss) Per Share Numerator          
Add back interest for subordinated convertible promissory note   286,667    286,667 
           
Income (Loss) Available to Common Stockholders on Converted Basis  $1,516,268   $(1,810,346)
           
Original Shares:          
Basic Weighted Average Shares Outstanding   14,968,215    14,782,442 
           
Dilutive Shares:          
Additions from Potential Events          
- Conversion of Subordinated Convertible Promissory Note   1,736,533    1,736,533 
- Conversion of Series A Convertible Preferred Stock   8,877,927    2,106,075 
- Conversion of Series B Convertible Preferred Stock   54,426,230    16,767,123 
- Conversion of Series C Convertible Preferred Stock   36,045    36,045 
- Exercise of Investor and Placement Agent Warrants   9,450,840    7,450,840 
Diluted Weighted Average Shares Outstanding:   89,495,790    42,879,058 
           
Earnings (loss) Per Share          
- Basic  $0.08   $(0.14)
- Diluted  $0.02   $(0.14)