Net Loss Per Share

12 Months Ended

Dec. 31, 2022

15. NET LOSS PER SHARE

The computation of the Company’s basic and diluted net loss per share is as follows:

	For the year ended December 31, 2022			For the year ended December 31, 2021
Numerator:
Net loss-continuing operations	$	(10,031,437	)	$	(13,447,956	)
Net loss – discontinued operations		(322,075	)		(16,625,555	)
Total net loss		(10,353,512	)		(30,073,511	)

Denominator:
Weighted-average shares outstanding-Basic		24,793,842			12,383,741
Stock options and restricted shares		-			-
Weighted-average shares outstanding-Diluted		24,793,842			12,383,741
Loss per share-continuing operations
-Basic	$	(0.40	)	$	(1.09	)
-Diluted	$	(0.40	)	$	(1.09	)

Loss per share-discontinued operations
-Basic	$	(0.01	)	$	(1.34	)
-Diluted	$	(0.01	)	$	(1.34	)

Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock.

As of December 31, 2022, there were no outstanding stock options and no other securities that would potentially be converted to additional shares of common stock that would have been outstanding if the dilutive potential shares of common stock had been issued were excluded from the calculation of diluted net loss per share.

As disclosed on Takung Art Co., Ltd.’s (the “Company”) Current Report on Form 8-K (the “Form 8-K”) filed on March 25, 2022, the Company entered into certain securities purchase agreement, dated February 23, 2022, as amended on March 9, 2022 (the “SPA”), with certain “non-U.S. Persons” (the “Purchasers”) as defined in Regulation S of the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the SPA, the Company agreed to issue 10,238,910 units for a per unit price of $2.93. Each unit consists of one share of the common stock of the Company, par value $0.001 per share (the “Common Stock”) and a warrant to purchase three shares of Common Stock.

The Purchasers have transferred the purchase price to the Company on April 6, 2022. On April 14, 2022, the Company has issued 10,238,910 units to the Purchasers. The issuance and sale of the units is exempted from the registration requirement of the Securities Act pursuant to Regulation S promulgated thereunder.

Takung Art Co., Ltd 10-K/A