LOSS PER COMMON SHARE

9 Months Ended

Jun. 30, 2022

LOSS PER COMMON SHARE

Loss Per Common Share

 H. LOSS PER COMMON SHARE

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. For the years presented, the gain on warrant liabilities priced lower than the average market price during the period is excluded from the numerator and the incremental shares, determined using the treasury stock method, are added to the denominator in calculating diluted loss per share.

The following tables provide the details of the basic and diluted loss per-share computations:

	Nine months ended June 30,						Three months ended June 30,
	2022			2021			2021			2021
Loss per share - basic
Net loss available to common shareholders - basic	$	(28,533,091	)	$	(28,507,113	)	$	(9,926,993	)	$	(9,203,350	)
Weighted average shares outstanding - basic		43,124,972			39,907,624			43,174,775			41,020,485
Basic loss per common share	$	(0.66	)	$	(0.71	)	$	(0.23	)	$	(0.22	)
Loss per share - diluted
Net loss available to common shareholders - basic	$	(28,533,091	)	$	(28,507,113	)	$	(9,926,993	)	$	(9,203,350	)
Unrealized gain on derivatives (1)		-			(1,236,514	)		-			(1,233,597	)
Net loss available to common shareholders – diluted	$	(28,533,091	)	$	(29,743,627	)	$	(9,926,993	)	$	(10,436,947	)
Weighted average shares outstanding - basic		43,124,972			39,907,624			43,174,775			41,020,485
Incremental shares underlying dilutive “in the money” warrants (1)		-			250,697			-			210,597
Weighted average shares outstanding - diluted		43,124,972			40,158,321			43,174,775			41,231,082
Diluted loss per common share	$	(0.66	)	$	(0.74	)	$	(0.23	)	$	(0.25	)

(1) Includes shares issuable upon the exercise of the Series Z, AA, BB, CC and HH warrants for the nine and three months ended June 30, 2021.

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of June 30:

	2022		2021
Options and Warrants		14,295,501		6,979,170
Unvested Restricted Stock		151,250		166,500
Total		14,446,751		7,145,670