CDT Equity Inc. Earnings Per Share Disclosure
For the years ended December 31, | ||||||||
| 2024 | 2023 | |||||||
| Numerator: | ||||||||
| Net income (loss) - basic | $ | (17,802 | ) | $ | (535 | ) | ||
| Less: Change in fair value and income impact of option liabilities | (5,521 | ) | ||||||
| Net income (loss) - diluted | $ | (17,802 | ) | $ | (6,056 | ) | ||
| Denominator: | ||||||||
| Weighted average common stock outstanding, basic | 867,096 | 669,739 | ||||||
| Add: Option liability conversion shares | 9,200 | |||||||
| Weighted average shares used in computing net loss per share - diluted | 867,096 | 678,939 | ||||||
| Net income (loss) per share, basic | $ | (20.53 | ) | $ | (0.79 | ) | ||
| Net income (loss) per share, diluted | $ | (20.53 | ) | $ | (8.92 | ) | ||
The Company notes that the adjustment to the numerator in 2023 for the change in fair value and income impact of Vela and Cizzle accounts for changes in fair value of each option, gains (losses) at the time of issuance of each option and the statement of operations impact of the derecognition of deferred revenue that originated upon the initial sale of royalties to both Vela and Cizzle.
| As of | As of | |||||||
| December 31, 2024 | December 31, 2023 | |||||||
| Public warrants | 139,790 | 139,790 | ||||||
| PIPE Warrants | 20,000 | |||||||
| A.G.P. Warrants | 540 | 540 | ||||||
| Convertible Promissory Notes Payable | 800 | 805 | ||||||
| Stock Options | 65,509 | 10,717 | ||||||
| Restricted stock Units | 1,470 | |||||||
| August 2024 Nirland Note | 672,007 | |||||||
| A.G.P. Convertible Note | 576,949 | |||||||
| March 2024 Warrants | 2,600 | |||||||
| April 2024 Warrants | 14,477 | |||||||
| A.G.P. 2024 Warrants | 28,626 | |||||||
| Antidilutive Securities | 1,501,298 | 173,322 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Mar 28, 2025 | Showing above |
| 2023 | Apr 16, 2024 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.