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Net Loss Per Common Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Net Loss Per Common Share

Note 5 – Net Loss Per Common Share

 

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents.

 

Diluted net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, considering common stock equivalents.

 

 

In March 2022, the Company issued and sold Pre-Funded Warrants to purchase 1,302,251 shares of common stock at a nominal exercise price of $0.001 per share (see Note 3). During the three months ended March 31, 2022, none of these warrants were exercised. As of March 31, 2021, there are 1,302,251 Pre-Funded Warrants outstanding. The shares of common stock into which the Pre-Funded Warrants may be exercised are considered outstanding for the purposes of computing earnings per share, because the shares may be issued for little or no consideration, they are fully vested and they are immediately exercisable upon their issuance date.

 

In February 2022, the Company issued 4,102,200 Tradeable Warrants pursuant to the Company’s public offering (see Note 3). In March 2022, the Company issued 3,603,604 Investor Warrants in a private placement (see Note 3). 370,452 Tradeable Warrants were exercised as of March 31, 2022, leaving 3,731,748 Tradeable Warrants outstanding. These warrants are dilutive and included in the diluted earnings per share.