Net Loss per Common Share

12 Months Ended

Dec. 31, 2021

Net Loss per Common Share [Abstract]

Net Loss per Common Share

Note 18 - Net Loss per Common Share

Basic net loss per share is computed by dividing net loss available to Common Stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the impact of common shares issuable upon exercise of stock options and warrants and conversion of convertible debt that are not deemed to be anti-dilutive. The dilutive effect of the outstanding stock options and warrants is computed using the treasury stock method.

At December 31, 2021, diluted net loss per share did not include the effect of 721,663 shares of Common Stock issuable upon the conversion of Series B preferred stock, 5,527,390 shares of Common Stock issuable upon the exercise of outstanding warrants, 37,500 shares of restricted stock not yet issued, and 447,796 shares of Common Stock issuable upon the exercise of outstanding options as their effect would be antidilutive during the periods prior to conversion. Also excluded from the diluted net loss per are the potentially dilutive effect of shares of Common Stock potentially issuable pursuant the Series B Exchange Right. 

At December 31, 2020, diluted net loss per share did not include the effect of 2,773,602 shares of Common Stock issuable upon the conversion of Series B preferred stock, 2,517,919 shares of Common Stock issuable upon the exercise of outstanding warrants, 11,200 shares of restricted stock not yet issued, and 407,028 shares of Common Stock issuable upon the exercise of outstanding options as their effect would be antidilutive during the periods prior to conversion. Also excluded from the diluted net loss per are the potentially dilutive effect of 329,020 shares of Common Stock from the First Wave License Agreement, and the potentially dilutive effect 1,066,667 shares of Common Stock underlying the Series C Preferred Stock and 1,066,666 shares of Common Stock issuable upon exercise of Investor Warrants potentially issuable pursuant the Registered Direct Offering and Private Placement entered into on December 31, 2020.