NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2022

NET LOSS PER COMMON SHARE

NET LOSS PER COMMON SHARE

14. NET 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.  The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants and restricted stock are not included in the computation of diluted net loss per share if their effect would be anti-dilutive.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

	Year ended September 30,
	2022			2021
Loss per share – basic
Net loss available to common shareholders - basic	$	(37,629,803	)	$	(36,711,970	)
Weighted average shares outstanding - basic		43,148,888			40,662,137
Basic loss per common share	$	(0.87	)	$	(0.90	)
Loss per share – diluted
Net loss available to common shareholders - basic	$	(37,629,803	)	$	(36,711,970	)
Unrealized gain on derivatives (1)		-			(1,085,540	)
Net loss available to common shareholders - diluted	$	(37,629,803	)	$	(37,797,510	)
Weighted average shares outstanding – basic		43,148,888			40,662,137
Incremental shares underlying dilutive warrants (1)		-			32,111
Weighted average shares outstanding - diluted		43,148,888			40,694,248
Diluted loss per common share	$	(0.87	)	$	(0.93	)

⁽¹⁾ Includes Series Z, AA, CC and HH warrants for the year ended September 30, 2021.  

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

	2022		2021
Options and Warrants		14,274,836		10,604,850
Unvested Restricted Stock		151,250		151,250
Total		14,426,086		10,756,100