| EARNINGS (LOSS) PER SHARE |
16. EARNINGS (LOSS) PER SHARE
The net income (loss) per common share amounts were
determined as follows:
| |
|
|
|
|
|
|
| |
|
For the Year Ended |
|
| |
|
February 28, |
|
February 28, |
|
| |
|
2023 |
|
2022 |
|
| Numerator: |
|
|
|
|
|
|
|
| Net income (loss) available to common shareholders |
|
$ |
(18,109,457 |
) |
$ |
(62,197,484 |
) |
| |
|
|
|
|
|
|
|
| Effect of common stock equivalents |
|
|
|
|
|
|
|
| Add: interest expense on convertible debt |
|
|
47,075 |
|
|
24,954 |
|
| Add (less) loss (gain) on change of derivative liabilities |
|
|
(3,595 |
) |
|
(372,214 |
) |
| Net income (loss) adjusted for common stock equivalents |
|
|
(18,065,977 |
) |
|
(62,544,744 |
) |
| |
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
| Weighted average shares - basic |
|
|
5,091,857,082 |
|
|
4,029,658,082 |
|
| |
|
|
|
|
|
|
|
| Net income (loss) per share – basic |
|
$ |
(0.00 |
) |
$ |
(0.02 |
) |
| |
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
| Weighted average shares – diluted |
|
|
5,091,857,082 |
|
|
4,029,658,082 |
|
| |
|
|
|
|
|
|
|
| Net income (loss) per share – diluted |
|
$ |
(0.00 |
) |
$ |
(0.02 |
) |
The anti-dilutive shares of common stock equivalents
for the years ended February 28, 2023 and February 28, 2022 were as follows:
| |
|
For the Year Ended |
|
| |
|
February 28, |
|
February 28, |
|
| |
|
2023 |
|
2022 |
|
| Convertible notes and accrued interest |
|
|
— |
|
|
4,927,561 |
|
| Convertible Class F Preferred Shares* |
|
|
— |
|
|
— |
|
| Stock options and warrants |
|
|
496,942,251 |
|
|
1,256,845,661 |
|
| Total |
|
|
496,942,251 |
|
|
1,261,773,222 |
|
__________
| * |
On August 23, 2021, the Company filed amended Series F preferred shares such that Series F preferred shares are not convertible into common stock by a holder until (A) August 23, 2023 or (B) the date on which such a conversion may be required for the purpose of (i) uplisting the Company to a new stock exchange, or (ii) selling more than 50% of the Company’s assets. Had these Series F preferred shares been convertible at February 28, 2023 and 2022 the dilutive effects would be as follows: |
Series F Preferred shares been convertible the dilutive effects would be as follows:
| |
|
For the Year Ended |
|
| |
|
February 28 |
|
| |
|
2023 |
|
2022 |
|
| Convertible Series F Preferred Shares |
|
20,178,158,517 |
|
16,336,475,742 |
|
|