Net Loss Per Share Applicable to Common Shareholders

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 4: Net Loss Per Share Applicable to Common Shareholders

Net Loss per Share Applicable to Common Stockholders

Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per common share is computed similarly 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 sets forth the computation of loss per share for the three months ended March 31, 2023, and 2022, respectively:

	For the Three Months Ended
	March 31,
	2023			2022
Numerator:
Net loss applicable to common shareholders	$	(5,693,644	)	$	(3,724,886	)
Denominator:
Weighted average common shares outstanding		4,825,054			4,274,064
Net loss per share:
Basic and diluted	$	(1.18	)	$	(0.87	)

The Company excluded all common equivalent shares outstanding for warrants, options, and convertible instruments to purchase common stock from the calculation of diluted net loss per share because all such securities are antidilutive for the periods presented. As of March 31, 2023, and 2022, the following shares were issuable and excluded from the calculation of diluted loss:

	For the Years Ended
	March 31,
	2023		2022
Common stock options		215,881		373,425
Common stock purchase warrants		672,334		628,100
Convertible Preferred Stock		347,652		347,652
Accrued interest on Preferred Stock		47,767		24,618
Potentially dilutive securities		1,283,634		1,373,795