Note 9 - Loss Per Share

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 9 – LOSS PER SHARE

The following table presents the shares used in the basic and diluted loss per common share computations:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2023			2022			2023			2022
Numerator:
Net loss attributable to common stockholders: basic and diluted calculation	$	(3,163,450	)	$	(4,059,485	)	$	(10,508,620	)	$	(17,821,524	)
Denominator:
Weighted average common shares outstanding - basic		4,031,356			3,919,203			3,998,887			3,602,515
Effect of diluted stock options, warrants, and preferred stock (1)		-			-			-			-
Weighted average common shares outstanding - diluted		4,031,356			3,919,203			3,998,887			3,602,515
Loss per common share - basic and diluted	$	(0.78	)	$	(1.04	)	$	(2.63	)	$	(4.95	)

(1) The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive:

	Three and Nine Months Ended
	September 30,
	2023		2022
Options		48,225		51,082
Restricted Stock Units		-		24,167
Warrants		1,807,020		1,819,927
Series B Convertible Preferred Stock		16		16

There were 79,246 shares of Series B Convertible Preferred Stock outstanding as of September 30, 2023 and September 30, 2022. In total, the 79,246 shares of Series B Convertible Preferred Stock were convertible to 16 shares of common stock as of September 30, 2023 and September 30, 2022 due to the cumulative effect of reverse stock splits.