| LOSS PER COMMON SHARE |
NOTE 11 – LOSS PER COMMON SHARE
The basic net income or loss per common share
is calculated by dividing the Company’s net loss available to common stockholders by the weighted average number of Common Stock
during the three and nine months ended September 30, 2026 and 2025. The diluted net income or loss per common share is calculated by dividing
the Company’s net loss available to common stockholders by the diluted weighted average number of Common Stock outstanding during
the period. For the three months ended September 30, 2026, the Company had net income; and certain potentially issuable shares were anti-dilutive
because the exercise prices of the Company’s outstanding warrants and stock options exceeded the average market price of the Company’s
common stock during the period. Diluted net loss per common share is equal to basic net loss per share due to the Company’s net
loss and any potentially issuable shares are anti-dilutive.
| Schedule of basic loss per common share |
|
|
|
|
|
|
|
|
| |
|
Three months |
|
Three months |
|
Nine months |
|
Nine months |
| |
|
September 30, 2026
|
|
September 30, 2025
|
|
September 30, 2026
|
|
September 30, 2025
|
| |
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
|
$ |
23,986,094 |
|
|
$ |
(28,685,309 |
) |
|
$ |
(104,451,888 |
) |
|
$ |
(34,269,502 |
) |
| Loss from discontinued operations |
|
|
– |
|
|
|
(486,019 |
) |
|
|
– |
|
|
|
(1,262,153 |
) |
| Net income (loss) |
|
$ |
23,986,094 |
|
|
$ |
(29,171,328 |
) |
|
$ |
(104,451,888 |
) |
|
$ |
(35,531,655 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
| Denominator for basic net income (loss) per common share - weighted average of common shares |
|
|
28,126,415 |
|
|
|
36,134,736 |
|
|
|
29,718,509 |
|
|
|
12,460,615 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dilutive effect of common stock warrants |
|
|
1,683,705 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Denominator for diluted net income (loss) per common share - weighted average of common shares |
|
|
29,810,120 |
|
|
|
36,134,736 |
|
|
|
29,718,509 |
|
|
|
12,460,615 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic income (loss) from continuing operations per common share |
|
$ |
0.85 |
|
|
$ |
(0.80 |
) |
|
$ |
(3.51 |
) |
|
$ |
(2.75 |
) |
| Basic income (loss) from discontinued operations per common share |
|
|
– |
|
|
|
(0.01 |
) |
|
|
– |
|
|
|
(0.10 |
) |
| Basic net income (loss) per common share |
|
$ |
0.85 |
|
|
$ |
(0.81 |
) |
|
$ |
(3.51 |
) |
|
$ |
(2.85 |
) |
| Diluted income (loss) from continuing operations per common share |
|
$ |
0.80 |
|
|
$ |
(0.80 |
) |
|
$ |
(3.51 |
) |
|
$ |
(2.75 |
) |
| Diluted income (loss) from discontinued operations per common share |
|
$ |
– |
|
|
|
(0.01 |
) |
|
|
– |
|
|
|
(0.10 |
) |
| Diluted net income (loss) per common share |
|
$ |
0.80 |
|
|
$ |
(0.81 |
) |
|
$ |
(3.51 |
) |
|
$ |
(2.85 |
) |
As discussed in Note 2 above, the Company received
notice from DTCC on behalf of the brokerage firms that hold the shares of Company common stock held in “street name” that
in connection with the foregoing rounding of shares the Company would need to issue 23,617 shares of common stock which are not included
in the amounts above. If these shares had been issued as of November 19, 2024 when notice from DTCC was received, the amounts for basic
and diluted net loss per common share for the nine months ended September 30, 2025 would be as follows:
| Schedule of loss per common share |
|
|
| |
|
Nine months |
| |
|
September 30, 2025
|
| Denominator: |
|
|
|
|
| |
|
|
|
|
| Denominator for basic and diluted net loss per common share - weighted average of common shares |
|
|
12,471,342 |
|
| |
|
|
|
|
| Basic and diluted loss from continuing operations per common share |
|
$ |
(2.75 |
) |
| Basic and diluted loss from discontinued operations per common share |
|
|
(0.10 |
) |
| Basic and diluted net loss per common share |
|
$ |
(2.85 |
) |
Common shares consisting of shares potentially dilutive as of September
30, 2026 and 2025 are as follows:
| Schedule of anti dilutive shares |
|
|
|
|
| |
|
September 30,
2026 |
|
September 30,
2025 |
| Warrants |
|
|
5,729,541 |
|
|
|
5,648,887 |
|
| Stock options |
|
|
1,089,177 |
|
|
|
1,298,366 |
|
| Total |
|
|
6,818,718 |
|
|
|
6,947,253 |
|
|