INCOME PER COMMON SHARE

3 Months Ended

Jun. 30, 2022

Net Income per share

INCOME PER COMMON SHARE

NOTE 3 – INCOME PER COMMON SHARE

We calculate basic income 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 2,833,755 shares of common stock. The Company excluded warrants of 150,000 for the three months ended June 30, 2022, from the weighted average diluted common shares outstanding because their inclusion would have been antidilutive.

	For the Three Months Ended June 30,
	2022			2021
Numerator:
Net income	$	3,253,027		$	9,536,660
Less: Preferred stock dividends		(774,132	)		(337,745	)
Net income attributable to common stockholders	$	2,478,895		$	9,198,915
Denominator:
Weighted average shares of common stock - basic		116,560,372			105,876,867
Effect of dilutive common stock purchase warrants		1,287,280			2,024,037
Effect of dilutive equity incentive awards		31,987			139,909
Effect of dilutive contingently issuable common stock		-			1,010,869
		117,879,639			109,051,682
Basic earnings per share:
Income/(loss) per share attributable to common stockholders - basic	$	0.02		$	0.09
Diluted earnings per share:
Income/(loss) per share attributable to common stockholders - diluted	$	0.02		$	0.08