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Net Loss per Share
12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net Loss per Share

Note 12. Net Loss Per Share

Basic loss per common share is computed by dividing the net loss allocable to common stockholders by the weighted-average number of shares of common stock or common stock equivalents outstanding. Diluted loss per common share is computed similar to basic loss per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net loss per share for the periods presented:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

Net loss

 

$

(17,145,170

)

 

$

(20,870,218

)

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic and diluted *

 

 

6,936,131

 

 

 

4,627,918

 

Net loss per share, basic and diluted

 

$

(2.47

)

 

$

(4.51

)

 

*Reflects the retrospective adjustment related to the reverse stock split completed on November 20, 2020.

 

The following common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because their effect would have been anti-dilutive:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Options to purchase common stock

 

 

559,336

 

 

 

487,227

 

Series A Preferred

 

 

158,545

 

 

 

158,545

 

Common stock warrants

 

 

58,688

 

 

 

58,688

 

Unvested restricted stock units

 

 

31,177

 

 

 

12,214