Annual report [Section 13 and 15(d), not S-K Item 405]

Loss Per Share (Tables)

v3.26.1
Loss Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Loss Per Share Computation
Following is the computation of loss per basic and diluted share:

Year Ended December 31,
2025 2024
Numerator:
Net loss $ (40,828,402) $ (134,906,649)
Preferred stock dividend (1,006,000)
Deemed dividends for Series A and B Convertible Preferred Stock (27,987,356)
Net loss attributable to Common Stockholders (69,821,758) (134,906,649)
Denominator:    
Weighted average shares used to compute basic and diluted EPS 6,681,851  408,133 
   
Basic and diluted loss per share (10.45) (330.55)
   
Anti-dilutive securities excluded from shares outstanding:    
Stock options 1,291  2,160 
Restricted and performance stock units 58,938  35,229 
Warrants 60,602  60,602 
Earnout shares 23,149  23,149 
SeaTrepid earnout shares 671,544 
Convertible debt 877,567  318,437 
Series A, B and C Convertible Preferred Stock 20,115,072  3,797,724 
Total 21,808,163  4,237,301