INCOME/(LOSS) PER COMMON SHARE

9 Months Ended

Dec. 31, 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 2,933,755 shares of common stock. Due to the loss from operations in the three and nine months ended December 31, 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 150,000 for the three months ended December 31, 2021 and warrants of 8,910,205 and 8,629,432 for the three and nine months ended December 31, 2020, respectively, from the weighted average diluted common shares outstanding because their inclusion would have been antidilutive.

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2021			2020			2021			2020
Numerator:
Net income/(loss)	$	9,067,867		$	(1,906,437	)	$	32,720,039		$	(7,348,851	)
Less: Preferred stock dividends		(782,582	)		-			(1,902,966	)		-
Net income/(loss) attributable to common stockholders	$	8,285,285		$	(1,906,437	)	$	30,817,073		$	(7,348,851	)
Denominator:
Weighted average shares of common stock - basic		114,757,014			47,790,105			111,289,024			47,023,094
Effect of dilutive common stock purchase warrants		1,835,395			-			1,934,172			-
Effect of dilutive equity incentive awards		125,091			-			127,802			-
		116,717,500			47,790,105			113,350,998			47,023,094
Basic earnings per share:
Income/(loss) per share attributable to common stockholders - basic	$	0.07		$	(0.04	)	$	0.28		$	(0.15	)
Diluted earnings per share:
Income/(loss) per share attributable to common stockholders - diluted	$	0.07		$	(0.04	)	$	0.27		$	(0.15	)