INCOME/(LOSS) PER COMMON SHARE

9 Months Ended

Dec. 31, 2023

Net 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 nine months ended December 31, 2023, potentially dilutive securities, which consists of 152,048 and 65,459 of respective warrants, 44,303 and 39,890 of respective equity incentive awards, and 150,000 of respective common stock purchase options 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 and nine months ended December 31, 2022, potentially dilutive securities, which consists of 389,544 and 1,070,694 (536,311 and 150,000 warrants, respectively, for the three and nine months ended December 31, 2022 were excluded as a result of the treasury stock method) common stock purchase warrants and 5,281 and 19,095 equity incentive awards, respectively for the three and nine months ended December 31, 2022, have been excluded from the dilutive EPS calculation as the effect would be antidilutive.

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2023			2022			2023			2022
Numerator:
Net loss	$	(1,643,989	)	$	(4,102,992	)	$	(10,232,319	)	$	(1,653,472	)
Less: Preferred stock dividends		(782,639	)		(782,639	)		(2,339,410	)		(2,339,409	)
Net loss attributable to common stockholders	$	(2,426,628	)	$	(4,885,631	)	$	(12,571,729	)	$	(3,992,881	)
Denominator:
Weighted average shares of common stock – Basic		118,447,154			117,348,511			118,110,943			116,950,013
Effect of dilutive common stock purchase warrants		-			-			-			-
Effect of dilutive equity incentive awards		-			-			-			-
Effect of dilutive common stock purchase options		-			-			-			-
		118,447,154			117,348,511			118,110,943			116,950,013
Earnings per share:
Loss per share attributable to common stockholders – basic	$	(0.02	)	$	(0.04	)	$	(0.11	)	$	(0.03	)
Loss per share attributable to common stockholders – diluted	$	(0.02	)	$	(0.04	)	$	(0.11	)	$	(0.03	)