Quarterly report pursuant to Section 13 or 15(d)

LOSS PER SHARE

v3.24.3
LOSS PER SHARE
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
LOSS PER SHARE

8. LOSS PER SHARE

The following table sets forth the computation of basic and fully diluted loss per share for the three and six months ended June 30, 2024, and 2023 (in thousands, except per share amounts):

    

Three Months Ended June 30, 

Six Months Ended June 30, 

2024

    

2023

2024

    

2023

Loss from continuing operations

$

(3,848)

$

(4,172)

$

(8,517)

$

(7,741)

Income (loss) from discontinued operations

 

3,593

 

(1,880)

 

4,501

 

(1,455)

Net loss

$

(255)

$

(6,052)

$

(4,016)

$

(9,196)

Loss from continuing operations per share, basic and diluted

$

(7.68)

$

(23.23)

$

(19.13)

$

(64.82)

Income (loss) from discontinued operations per share, basic and diluted

 

7.18

 

(10.47)

 

10.11

 

(12.18)

Loss per share, basic and diluted

$

(0.50)

$

(33.70)

$

(9.02)

$

(77.00)

Basic weighted average common stock outstanding

 

500,758

 

179,575

 

445,316

 

119,432

Dilutive weighted average common stock outstanding

 

500,758

 

179,575

 

445,316

 

119,432

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period. Diluted net income loss per share is computed using the treasury stock method to calculate the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential dilutive common shares include incremental common shares issuable upon the exercise of stock options, less shares from assumed proceeds. The assumed proceeds calculation includes actual proceeds to be received from the employee upon exercise and the average unrecognized stock compensation cost during the period.

Stock options to purchase 800 and 2,630 shares of common stock and warrants to purchase 10,352 and 10,852 shares of common stock were outstanding at June 30, 2024, and 2023, respectively, that were not included in the computation of diluted weighted average common stock outstanding because their effect would have been anti-dilutive.