| Computation of Basic Net Earnings (Loss) Per Share |
The computation of the Company’s basic net earnings (loss) per share is presented below:
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Twelve Months Ended |
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Twelve Months Ended |
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Twelve Months Ended |
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Numerator |
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Net (loss) income |
$ |
(7,779,133 |
) |
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$ |
1,179,854 |
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$ |
3,809,711 |
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Less: Net loss (income) allocated to participating share awards |
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35,531 |
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(13,194 |
) |
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(49,118 |
) |
Net loss attributable to non-controlling interest |
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92,124 |
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122,515 |
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131,710 |
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Undeclared distributions to preferred stockholders |
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(7,977,251 |
) |
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(7,977,250 |
) |
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(7,977,250 |
) |
Net loss attributable to common stockholders for EPS computation |
$ |
(15,628,729 |
) |
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$ |
(6,688,075 |
) |
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$ |
(4,084,947 |
) |
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Denominator |
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Weighted average number common shares outstanding for basic EPS computation |
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20,247,077 |
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19,417,448 |
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18,843,032 |
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Basic and diluted net loss per common share: |
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Undistributed loss |
$ |
(0.77 |
) |
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$ |
(0.34 |
) |
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$ |
(0.22 |
) |
Total basic and diluted |
$ |
(0.77 |
) |
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$ |
(0.34 |
) |
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$ |
(0.22 |
) |
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| Computation of Basic Earnings (Loss) Per Unit |
The computation of basic earnings (loss) per general and limited partnership unit in the Operating Partnership is presented below:
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Twelve Months Ended |
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Twelve Months Ended |
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Twelve Months Ended |
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December 31, 2025 |
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December 31, 2024 |
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December 31, 2023 |
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Numerator |
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Net (loss) income |
$ |
(7,779,133 |
) |
|
$ |
1,179,854 |
|
|
$ |
3,809,711 |
|
Less: Net loss (income) allocated to participating unit awards |
|
35,531 |
|
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|
(13,194 |
) |
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(49,118 |
) |
Undeclared distributions to preferred unitholders |
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(7,977,251 |
) |
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(7,977,250 |
) |
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(7,977,250 |
) |
Net loss attributable to unitholders for EPU computation |
$ |
(15,720,853 |
) |
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$ |
(6,810,590 |
) |
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$ |
(4,216,657 |
) |
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Denominator |
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Weighted average number of units outstanding for basic EPU computation |
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20,384,444 |
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19,997,274 |
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19,808,602 |
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Effect of dilutive participating securities: |
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Basic and diluted net income (loss) per unit: |
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Undistributed loss |
$ |
(0.77 |
) |
|
$ |
(0.34 |
) |
|
$ |
(0.21 |
) |
Total basic and diluted |
$ |
(0.77 |
) |
|
$ |
(0.34 |
) |
|
$ |
(0.21 |
) |
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