Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share

	For the Three Months Ended September 30, 2022			For the Nine Months Ended September 30, 2022
Numerator:
Net loss	$	(5,006,945	)	$	(16,852,985	)

Denominator:
Basic:
Weighted average shares of common stock outstanding		16,089,019			15,230,839

Diluted:
Weighted average shares of common stock outstanding		16,089,019			15,230,839
Effect of potentially dilutive shares (1)		0			1,854,945
Total weighted average shares of common stock and potentially dilutive shares		16,089,019			17,085,784

Net loss per common share:
Basic:
Net loss applicable to common stockholders	$	(5,006,945	)	$	(16,852,985	)
Weighted average shares of stock outstanding, basic		16,089,019			15,230,839
Basic net loss per common share	$	(0.31	)	$	(1.11	)

Diluted:
Net loss applicable to common shareholders, diluted (1)	$	(5,006,945	)	$	(19,249,985	)
Weighted average shares of stock outstanding, diluted		16,089,019			17,085,784
Diluted net loss per common share	$	(0.31	)	$	(1.13	)

(1) In calculating diluted net loss per share, we excluded the impact of changes in the fair value of the Secured Convertible Notes of $2.4 million for the nine months ended September 30, 2022. The 1,854,945 shares for the nine months ended September 30, 2022 are the weighted average shares associated with the original principal amount of the Secured Convertible Notes.

Schedule of Number of Shares of Common Stock Underlying Potentially Dilutive Securities Excluded From Calculation of Diluted Net Loss Per Share

As of September 30, 2022 and 2021, the number of shares of common stock underlying potentially dilutive securities excluded from the calculation of diluted net loss per share, because the company’s net loss meant that their inclusion would have been antidilutive for those periods, consist of:

	September 30,
	2022		2021
Options to purchase common stock		2,830,475		1,908,975
SWK Warrants		250,000		—
Total		3,080,475		1,908,975