INCOME PER COMMON SHARE

6 Months Ended

Sep. 30, 2022

Net Income/(Loss) 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 2,821,634 shares of common stock. Due to the net loss attributable to common shareholders for the three months ended September 30, 2022, potentially dilutive securities, which consists of 1,319,091 common stock purchase warrants and 18,469 equity incentive awards have been excluded from the dilutive EPS calculation as the effect would be antidilutive. The Company excluded warrants of 150,000 for the six months ended September 30, 2022, 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,
	2022			2021			2022			2021
Numerator:
Net income/(loss)	$	(803,507	)	$	14,115,512		$	2,449,520		$	23,652,172	)
Less: Preferred stock dividends		(782,639	)		(782,639	)		(1,556,771	)		(1,120,384	)
Net income/(loss) attributable to common stockholders	$	(1,586,146	)	$	13,332,873		$	892,749		$	22,531,788
Denominator:
Weighted average shares of common stock – Basic		116,927,607			113,174,363			116,744,972			109,545,553
Effect of dilutive common stock purchase warrants		-			1,922,749			1,300,609			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			18,038			124,658
		116,927,607			116,721,949			118,063,619			112,848,821
Basic earnings per share:
Income/(loss) per share attributable to common stockholders – basic	$	(0.01	)	$	0.12		$	0.01		$	0.21
Diluted earnings per share:
Income/(loss) per share attributable to common stockholders – diluted	$	(0.01	)	$	0.11		$	0.01		$	0.20

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