Quarterly report pursuant to Section 13 or 15(d)

LOSS PER COMMON SHARE

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LOSS PER COMMON SHARE - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Earnings Per Share [Abstract]        
LOSS PER COMMON SHARE    

NOTE 12 – 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     Three months     Six months     Six months  
   

June 30,

2024

    

June 30,

2023

    

June 30,

2024

    

June 30,

2023

  
                         
Numerator:                                
                                 
Net loss   $ (606,418 )   $ (23,028,194 )   $ (26,654,462 )   $ (30,327,663 )
                                 
Denominator:                                
                                 
Denominator for basic and diluted net loss per common share - weighted average of common shares     401,802       1,205       240,759       1,148  
                                 
Basic and diluted net loss per common share   $ (1.51 )   $ (19,110.53 )   $ (110.71 )   $ (26,417.82 )

 

Common shares consisting of shares potentially dilutive as of June 30, 2024 and 2023 are as follows:

           
    June 30, 2024     June 30, 2023  
Convertible Notes     –       1,263  
Preferred Stock     988,069          
Warrants     109,282       1,268  
Stock options     153       146  
Restricted stock units     –       3  
Total     1,097,504       2,680  

 

  
Numerator:        
Net loss $ (606,418) $ (23,028,194) $ (26,654,462) $ (30,327,663)