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INCOME PER COMMON SHARE | 3 Months Ended
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Jun. 30, 2023
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 2,256,296 shares of common stock. Due to the net loss attributable to common shareholders for the three months ended June 30, 2023, potentially dilutive securities, which consists of 911 warrants and 9,090 equity incentive awards were excluded, as a result of the treasury stock method, from the dilutive EPS calculation as the effect would be antidilutive. For the three months ended June 30, 2022, 150,000 warrants were excluded, as a result of the treasury stock method, from the dilutive EPS calculation as the effect would be antidilutive. SCHEDULE OF INCOME/(LOSS) PER COMMON SHARE
|  | 2023 |  |  | 2022 |
|  | For the Three Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Numerator: |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | (1,093,033 | ) |  | $ | 3,253,027 |
Less: Preferred stock dividends |  |  | (774,132 | ) |  |  | (774,132 | )
Net income attributable to common stockholders |  | $ | (1,867,165 | ) |  | $ | 2,478,895 |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares of common stock - basic |  |  | 117,713,805 |  |  |  | 116,560,372 |
Effect of dilutive common stock purchase warrants |  |  | - |  |  |  | 1,287,280 |
Effect of dilutive equity incentive awards |  |  | - |  |  |  | 31,987 |
Weighted average shares of common stock - Diluted |  |  | 117,713,805 |  |  |  | 117,879,639 |
Basic earnings per share: |  |  |  |  |  |  |  |
Income/(loss) per share attributable to common stockholders - basic |  | $ | (0.02 | ) |  | $ | 0.02 |
Diluted earnings per share: |  |  |  |  |  |  |  |
Income/(loss) per share attributable to common stockholders - diluted |  | $ | (0.02 | ) |  | $ | 0.02 |

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