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INCOME PER COMMON SHARE | 6 Months Ended
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Sep. 30, 2022
Net Income/(Loss) per share |
INCOME PER COMMON SHARE | NOTE 3 – INCOME PER COMMON SHARE We calculate basic income per share using the weighted-average number of shares of common stock outstanding during each reporting period. Diluted 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 2,821,634 shares of common stock. 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. SCHEDULE OF INCOME/(LOSS) PER COMMON SHARE
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | For the Three Months Ended September 30, |  |  | For the Six Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | (803,507 | ) |  | $ | 14,115,512 |  |  | $ | 2,449,520 |  |  | $ | 23,652,172 | )
Less: Preferred stock dividends |  |  | (782,639 | ) |  |  | (782,639 | ) |  |  | (1,556,771 | ) |  |  | (1,120,384 | )
Net income/(loss) attributable to common stockholders |  | $ | (1,586,146 | ) |  | $ | 13,332,873 |  |  | $ | 892,749 |  |  | $ | 22,531,788 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock – Basic |  |  | 116,927,607 |  |  |  | 113,174,363 |  |  |  | 116,744,972 |  |  |  | 109,545,553 |
Effect of dilutive common stock purchase warrants |  |  | - |  |  |  | 1,922,749 |  |  |  | 1,300,609 |  |  |  | 1,916,315 |
Effect of dilutive contingently issuable common stock (1) |  |  | - |  |  |  | 1,500,000 |  |  |  | - |  |  |  | 1,262,295 |
Effect of dilutive equity incentive awards |  |  | - |  |  |  | 124,837 |  |  |  | 18,038 |  |  |  | 124,658 |
Weighted average shares of common stock - Diluted |  |  | 116,927,607 |  |  |  | 116,721,949 |  |  |  | 118,063,619 |  |  |  | 112,848,821 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income/(loss) per share attributable to common stockholders – basic |  | $ | (0.01 | ) |  | $ | 0.12 |  |  | $ | 0.01 |  |  | $ | 0.21 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income/(loss) per share attributable to common stockholders – diluted |  | $ | (0.01 | ) |  | $ | 0.11 |  |  | $ | 0.01 |  |  | $ | 0.20 |
| (1) | Weighted average of contingently issuable shares measured from the effective date of merger, April 30, 2021

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