INCOME/(LOSS) PER COMMON SHARE

6 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

INCOME/(LOSS) PER COMMON SHARE

NOTE 3 – INCOME/(LOSS) PER COMMON SHARE

We calculate basic income/(loss) per share using the weighted-average number of shares of common stock outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities, such as outstanding options and warrants. We use the treasury stock method, in the determination of dilutive shares outstanding during each reporting period. We have issued warrants to purchase 3,047,960 shares of common stock and contingently issuable shares of common stock of 1,500,000. All weighted average numbers were adjusted for the reverse stock split and merger transaction. Due to the loss from operations in the three and six months ended September 30, 2020, there are no common shares added to calculate the dilutive loss per share for that period as the effect would be antidilutive. The Company excluded warrants of 8,381,192 for the three and six months ended September 30, 2020, from the weighted average diluted common shares outstanding because their inclusion would have been antidilutive.

	For the Three Months Ended September 30,						For the Six Months Ended September 30,
	2021			2020			2021			2020
Numerator:
Net income/(loss)	$	14,115,512		$	(2,338,625	)	$	23,652,172		$	(5,442,414	)
Less: Preferred stock dividends		(782,639	)		-			(1,120,384	)		-
Net income/(loss) attributable to common stockholders	$	13,332,873		$	(2,338,625	)	$	22,531,788		$	(5,442,414	)
Denominator:
Weighted average shares of common stock - Basic		113,174,363			47,790,105			109,545,553			47,023,094
Effect of dilutive common stock purchase warrants		1,922,749			-			1,916,315			-
Effect of dilutive contingently issuable common stock (1)		1,500,000			-			1,262,295			-
Effect of dilutive equity incentive awards		124,837			-			124,658			-
		116,721,949			47,790,105			112,848,821			47,023,094
Basic earnings per share:
Income/(loss) per share attributable to common stockholders - basic	$	0.12		$	(0.05	)	$	0.21		$	(0.12	)
Diluted earnings per share:
Income/(loss) per share attributable to common stockholders - diluted	$	0.11		$	(0.05	)	$	0.20		$	(0.12	)

(1) Weighted average of contingently issuable shares measured from the effective date of merger, April 30, 2021