NOTE 19: -   BASIC AND DILUTED NET LOSS PER COMMON STOCK

The Company computes net loss per share of common and preferred stock using the two-class method. Basic and diluted net earnings or loss per share is computed using the weighted-average number of shares outstanding during the period. This calculation includes the total weighted average number of the Common Stock, which includes prefunded warrants.

The total number of potential common shares related to the outstanding options, warrant and preferred shares excluded from the calculations of diluted net loss per share due to their anti-dilutive effect was 3,089,371 for the year ended December 31, 2025, and for the year ended December 31, 2024, was 1,783,543.

The following table sets forth the computation of the Company’s basic net earnings (loss) per common stock:

Year ended

December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

Net loss

$

41,714,000

$

42,746,771

Deemed dividend (contribution)

20,021,247

(1,764,421)

Less: loss attributable to participating preferred stock

21,425,670

10,893,373

Net loss attributable to common stock shareholders used in computing basic net loss per share

$

40,309,577

$

30,088,977

Weighted average number of common stock used in computing basic loss per share

3,982,956

2,451,971

Basic and diluted net loss per common stock

$

10.12

$

12.27

Historical Timeline

Fiscal YearFiled
2025Mar 19, 2026Showing above
2024Mar 10, 2025
2023Mar 28, 2024
2022Mar 9, 2023

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.