INCOME PER COMMON SHARE

3 Months Ended

Jun. 30, 2023

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 2,256,296 shares of common stock. Due to the net loss attributable to common shareholders for the three months ended June 30, 2023, potentially dilutive securities, which consists of 911 warrants and 9,090 equity incentive awards were excluded, as a result of the treasury stock method, from the dilutive EPS calculation as the effect would be antidilutive. For the three months ended June 30, 2022, 150,000 warrants were excluded, as a result of the treasury stock method, from the dilutive EPS calculation as the effect would be antidilutive.

	For the Three Months Ended June 30,
	2023			2022
Numerator:
Net income/(loss)	$	(1,093,033	)	$	3,253,027
Less: Preferred stock dividends		(774,132	)		(774,132	)
Net income attributable to common stockholders	$	(1,867,165	)	$	2,478,895
Denominator:
Weighted average shares of common stock - basic		117,713,805			116,560,372
Effect of dilutive common stock purchase warrants		-			1,287,280
Effect of dilutive equity incentive awards		-			31,987
		117,713,805			117,879,639
Basic earnings per share:
Income/(loss) per share attributable to common stockholders - basic	$	(0.02	)	$	0.02
Diluted earnings per share:
Income/(loss) per share attributable to common stockholders - diluted	$	(0.02	)	$	0.02