Quarterly report pursuant to Section 13 or 15(d)

LOSS PER COMMON SHARE

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LOSS PER COMMON SHARE
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
LOSS PER COMMON SHARE

NOTE 10 – LOSS PER COMMON SHARE

 

The basic net loss per common share is calculated by dividing the Company’s net loss available to common stockholders by the weighted average number of common shares during the year. The diluted net loss per common share is calculated by dividing the Company’s net loss available to common stockholders by the diluted weighted average number of common shares outstanding during the year. The diluted weighted average number of common shares outstanding is the basic weighted number of common shares adjusted for any potentially dilutive debt or equity. Diluted net loss per common share is equal to basic net loss per share due to the Company’s net loss and any potentially issuable shares are anti-dilutive.

             
    Three Months Ended     Three Months Ended  
    March 31, 2023     March 31, 2022  
             
Numerator:                
                 
Net loss   $ (7,299,469 )   $ (8,612,345 )
                 
Denominator:                
                 
Denominator for basic and diluted net loss per common share - weighted average of common shares     24,535,131       21,745,089  
                 
Basic and diluted net loss per common share   $ (0.30 )   $ (0.40 )

 

Common shares consisting of shares potentially dilutive as of three month ended March 31, 2023 and 2022 are as follows:

 

             
    2023     2022  
Convertible Notes   12,077,295        
Warrants   15,085,618       5,501,293  
Stock options   3,405,497       2,369,729  
Restricted stock units   50,000       335,000  
Total   30,618,410       8,206,022