Quarterly report [Sections 13 or 15(d)]

Loss Per Share (Details)

v3.25.3
Loss Per Share (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Numerator:        
Net income (loss) from continued operations $ (6,639,948) $ 17,931,827 $ (21,661,311) $ (50,366,134)
Deemed dividend – Series A down-round adjustment (3,427,706) 0 (3,427,706) 0
Net Income (loss) for basic earnings per share (10,067,654) 17,931,827 (25,089,017) (50,366,134)
Change in fair value of SPA warrant liabilities 0 (374,796) 0 0
New convertible debentures interest and change in fair value 0 (24,199,071) 0 0
Convertible secured debentures interest and amortization 0 1,151,356    
Adjusted net loss for diluted earnings per share $ (10,067,654) $ (5,490,684) $ (25,089,017) $ (50,366,134)
Denominator:        
Weighted average shares used to compute basic EPS (in shares) 3,878,466 297,334 3,357,726 212,307
Stock options (in shares) $ 0 $ 0 $ 0 $ 0
Restricted and performance stock units (in shares) 0 133 0 0
SPA Warrants (in shares) 0 11,837 0 0
Convertible debt (in shares) $ 0 $ 1,389,493    
Weighted average shares used to compute diluted EPS (in shares) 3,878,466 1,698,797 3,357,726 212,307
Basic income (loss) per share (in dollars per share) $ (2.60) $ 60.31 $ (7.47) $ (237.23)
Diluted loss per share (in dollars per share) $ (2.60) $ (3.23) $ (7.47) $ (237.23)
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 4,253,164 111,715 4,201,028 1,513,046
Stock options        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 1,020 2,781 1,431 2,781
Restricted and performance stock units        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 93,726 37,019 41,179 37,020
Warrants        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 60,603 48,766 60,603 60,603
Earnout shares        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 23,148 23,149 23,148 23,149
Seatrepid earnout shares        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 671,544 0 671,544 0
Convertible debt        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 978,435 0 978,435 1,389,493
Series A and B Convertible Preferred Stock        
Anti-dilutive securities excluded from shares outstanding:        
Total anti-dilutive securities excluded from shares outstanding (in shares) 2,424,688 0 2,424,688 0