| NET LOSS PER SHARE |
NOTE 6 – NET LOSS PER SHARE: Basic net loss per share is calculated by dividing the net loss attributable to the Company’s stockholders by the weighted average number of common shares outstanding. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the three months ended | | For the six months ended | | | | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | | | | | in thousand U.S. dollars except per share and share amounts | | Net loss | | $ | (7,020) | | $ | (6,334) | | $ | (13,070) | | $ | (11,666) | | Total net loss attributable to common shareholders | | $ | (7,020) | | $ | (6,334) | | $ | (13,070) | | $ | (11,666) | | Basic and diluted net loss per common share | | | (0.30) | | | (0.30) | | | (0.56) | | | (0.56) | | Weighted average of common shares outstanding | | | 23,475,989 | | | 21,366,268 | | | 23,445,397 | | | 20,655,856 | |
Basic loss per share is calculated by dividing the result attributable to equity holders of the Company by the weighted average number of shares of common stock in issue during the period. | | | | | | | | | | For the three months ended | | For the six months ended | | | | June 30, 2026 | | June 30, 2026 | | Weighted average of common shares | | | 26,231,267 | | | 26,156,289 | | Average unvested RSAs | | | (2,755,278) | | | (2,710,892) | | Weighted average of common shares outstanding | | | 23,475,989 | | | 23,445,397 | |
The following potentially dilutive securities were excluded from the calculation of diluted net loss per common share because their effect would have been anti-dilutive for the periods presented: | | | | | | | | | | June 30, | | | 2026 | | 2025 | Common shares issuable in relation to: | | | | | Warrants | | 159,870 | | 159,870 | Options | | 348,281 | | 348,281 | Unvested RSAs * | | 2,900,117 | | 2,305,823 |
| * | Includes 193,557 of RSAs granted outside of the Incentive Plan; see explanation in Note 5. |
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