Basic and diluted net loss per share is based upon the weighted average number of common shares outstanding during the period. Common stock equivalents consist of incremental common shares issuable upon the exercise of stock options, and the release (vesting) of RSUs and awards and are calculated under the treasury stock method. Common stock equivalent shares from unexercised stock options, and unvested RSUs and awards are excluded from the computation for periods in which we incur a net loss or if the exercise price of such options is greater than the average market price of our common stock for the period as their effect would be anti-dilutive. Common stock equivalents consist of incremental common shares issuable upon conversion of convertible debt and preferred shares are calculated under the if-converted method. Common stock equivalent shares from convertible debt and preferred shares are excluded from the computation for periods in which we incur a net loss or if their effect would be anti-dilutive.

For the three months ended March 29, 2025 and March 30, 2024, potential shares from stock options and RSUs totaling 2,269,639 and 3,201,628 shares, respectively, were excluded from the computation of diluted weighted average shares outstanding. For the three months ended March 29, 2025 and March 30, 2024, potential shares from the conversion of convertible debt and preferred shares totaling 5,000,000 and 0 were excluded from the computation of diluted weighted average shares outstanding, respectively. However, notwithstanding any provision in the transaction documents with Novel to the contrary, in no circumstance shall the Company be required to deliver to Novel any shares of Series B Preferred Stock or common stock pursuant to the terms of the Transaction Documents to the extent that (i) the aggregate of all such shares issued by the Company would exceed 19.99% of either (a) the total number of shares of common stock outstanding as of March 19, 2025 or (b) the total voting power of the Company’s securities outstanding as of March 19, 2025 that are entitled to vote on a matter being voted on by holders of the common stock, or (ii) such delivery would cause the holder to become, directly or indirectly, a “beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of more than 19.99% of either (a) the total number of shares of common stock outstanding as of such date or (b) the total voting power of the Company’s securities outstanding as of such date that are entitled to vote on a matter being voted on by holders of the common stock, in each case, unless shareholder approval has been obtained.

A reconciliation of the numerator and denominator of basic and diluted net loss per common share is provided as follows (in thousands except per share data):


	Three Months Ended
	March 29, 2025			March 30, 2024
Numerator:
Net loss	$	(1,686	)	$	(3,464	)
Denominator:
Weighted average shares of common stock (basic)		16,727			16,253
Weighted average shares of common stock (diluted)		16,727			16,253
Per share data:
Basic net loss per share	$	(0.10	)	$	(0.21	)
Diluted net loss per share	$	(0.10	)	$	(0.21	)