OLENOX INDUSTRIES INC. Earnings Per Share Disclosure

Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of the common shares issuable upon the exercise of stock options and warrants. Potentially dilutive common shares are excluded from the calculation if their effect is antidilutive.

At December 31, 2024, there were outstanding options, restricted stock units and warrants to purchase 1,822, 404,924 and 5,809,799 shares of our Common Stock, respectively, outstanding that could potentially dilute future net income per share. Because the Company had a net loss as of December 31, 2024, it is prohibited from including potential common shares in the computation of diluted per share amounts. Accordingly, the Company has used the same number of shares outstanding to calculate both the basic and diluted loss per share. At December 31, 2023, there were options, including options to non-employees and non-directors, restricted stock units and warrants to purchase 36,436, 0 and 2,247,133 shares of common stock (1,822, 0, and 112,357, respectively, shares as adjusted for the May Stock Split),  respectively, outstanding that could potentially dilute future net income per share.