Note 18 – Earnings per share

The Company presents net income per share on a basic and diluted basis for the three and nine months ended September 30, 2024, and net loss per share on a basic and diluted basis for the three and nine months ended September 30, 2023. Basic income/(loss) per share is computed by dividing net income/(loss) by the weighted average number of common shares outstanding (“WASO”) during the period. For the three and nine months ended September 30, 2023, the Company’s basic and diluted net loss per share attributable to common stockholders are the same as the Company generated a net loss. For the three and nine months ended September 30, 2024, the Company’s basic and diluted net income per share attributable to common stockholders are different as the common stock equivalents are excluded from diluted net income per share as they have an anti-dilutive impact.

For the three and nine months ended September 30, 2024, potentially dilutive securities not included in the calculation of diluted net income/(loss) per share, because to do so would be anti-dilutive, are as follows: 269,345 of stock equivalent warrants; 99,525 of stock equivalent employee stock options.

For the three and nine months ended September 30, 2023, potentially dilutive securities not included in the calculation of diluted net loss per share, because to do so would be anti-dilutive, are as follows: 214,400 of stock equivalent warrants; 335,640 of warrant liabilities (148,758 First Tranche Warrant and 186,882 Second Tranche Warrant); 59,361 of stock equivalent employee stock options and 146 of stock equivalent other options.

The following table sets forth basic and diluted net (loss) earnings per share attributable to common stockholders for the three and nine months ended September 30, 2024 and 2023 (in thousands, except share and per share amounts):

Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders