INCOME/(LOSS) PER COMMON SHARE

6 Months Ended

Sep. 30, 2023

Net Income/(Loss) per share

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 income/(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 and six months ended September 30, 2023, potentially dilutive securities, which consists of 58,227 and 16,402 of respective warrants and 27,426 and 24,868 of respective equity incentive awards were excluded, as a result of the treasury stock method, from the dilutive EPS calculation as the effect would be antidilutive. 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,
	2023			2022			2023			2022
Numerator:
Net income/(loss)	$	(7,495,297	)	$	(803,507	)	$	(8,588,330	)	$	2,449,520
Less: Preferred stock dividends		(782,639	)		(782,639	)		(1,556,771	)		(1,556,771	)
Net income/(loss) attributable to common stockholders	$	(8,277,936	)	$	(1,586,146	)	$	(10,145,101	)	$	892,749
Denominator:
Weighted average shares of common stock – Basic		118,167,228			116,927,607			117,941,755			116,744,972
Effect of dilutive common stock purchase warrants		-			-			-			1,300,609
Effect of dilutive equity incentive awards		-			-			-			18,038
		118,167,228			116,927,607			117,941,755			118,063,619
Earnings per share:
Income/(loss) per share attributable to common stockholders – basic	$	(0.07	)	$	(0.01	)	$	(0.09	)	$	0.01
Income/(loss) per share attributable to common stockholders – diluted	$	(0.07	)	$	(0.01	)	$	(0.09	)	$	0.01