| BASIC AND DILUTED LOSS (EARNINGS) PER SHARE |
NOTE 11 – BASIC AND DILUTED LOSS (EARNINGS) PER SHARE
Basic loss (earnings) per share is
computed on the basis of the net loss (income) for the period divided by the weighted average number of shares of Common Stock outstanding
during the period, fully vested warrants with no exercise price for the Company’s Common Stock and fully vested Pre-Funded Warrants
for the Company’s Common Stock at an exercise price of $0.001 per share, as the Company considers these shares to be exercised for
little to no additional consideration.
Diluted loss per share is based upon
the weighted average number of shares of Common Stock and of potential shares of Common Stock outstanding when dilutive. Potential shares
of Common Stock equivalents include outstanding stock options and warrants, which are included under the treasury stock method when dilutive.
The calculation of diluted loss per
share for the nine and three months ended September 30, 2024 and September 30, 2023, does not include the shares underlying
the following financial instruments because their effect would be anti-dilutive:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| Options |
|
|
2,041,139 |
|
|
|
591,034 |
|
|
|
2,062,650 |
|
|
|
591,034 |
|
| Warrants |
|
|
12,646,132 |
|
|
|
921,251 |
|
|
|
1,825,281 |
|
|
|
921,251 |
|
| Contingent shares |
|
|
200,000 |
|
|
|
400,000 |
|
|
|
200,000 |
|
|
|
400,000 |
|
| Redeemable Convertible Preferred Shares |
|
|
14,773,500 |
|
|
|
- |
|
|
|
14,773,500 |
|
|
|
- |
|
The following table presents the computation
of basic and diluted loss (earnings) per share:
| |
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
| |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
| Basic loss (earnings) per share of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss (income) |
|
|
(9,642 |
) |
|
|
7,906 |
|
|
|
3,214 |
|
|
|
20,678 |
|
| Amount allocated to Redeemable Convertible Preferred Shares |
|
|
(4,575 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net loss (income) attributable to shares of common stock |
|
|
(5,067 |
) |
|
|
7,906 |
|
|
|
3,214 |
|
|
|
20,678 |
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares of common stock outstanding |
|
|
16,365,824 |
|
|
|
4,597,403 |
|
|
|
9,943,968 |
|
|
|
3,951,624 |
|
| Number of shares upon Pre-Funded Warrants exercise |
|
|
- |
|
|
|
1,461,073 |
|
|
|
- |
|
|
|
867,736 |
|
| Number of shares upon Fully vested Warrants exercise |
|
|
298 |
|
|
|
298 |
|
|
|
298 |
|
|
|
298 |
|
| Total weighted-average number of shares of common stock, shares upon Pre-Funded Warrants and Fully vested Warrants exercise used in computing basic loss (earnings) per share |
|
|
16,366,122 |
|
|
|
6,058,774 |
|
|
|
9,944,267 |
|
|
|
4,819,658 |
|
| Basic loss (earnings) per share of common stock |
|
|
(0.31 |
) |
|
|
1.30 |
|
|
|
0.32 |
|
|
|
4.29 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss (income) |
|
|
(9,642 |
) |
|
|
7,906 |
|
|
|
3,214 |
|
|
|
20,678 |
|
| Change in fair value of Private Placement Warrants |
|
|
- |
|
|
|
- |
|
|
|
24,417 |
|
|
|
- |
|
| Diluted net loss |
|
|
(9,642 |
) |
|
|
7,906 |
|
|
|
27,631 |
|
|
|
20,678 |
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average number of shares of common stock outstanding |
|
|
16,366,122 |
|
|
|
6,058,774 |
|
|
|
9,944,267 |
|
|
|
4,819,658 |
|
| Private Placement Warrants |
|
|
- |
|
|
|
- |
|
|
|
1,350,613 |
|
|
|
- |
|
| Options |
|
|
21,511 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Total weighted-average number of shares of common stock outstanding, after giving effect to dilutive securities |
|
|
16,387,633 |
|
|
|
6,058,774 |
|
|
|
11,294,880 |
|
|
|
4,819,658 |
|
| Diluted net loss per share of common stock |
|
|
(0.31 |
) |
|
|
1.30 |
|
|
|
2.45 |
|
|
|
4.29 |
|
|