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INCOME/(LOSS) PER COMMON SHARE
 12 Months Ended
Mar. 31, 2025
Net Income/(Loss) per share  
INCOME/(LOSS) PER COMMON SHARE

NOTE 3 – INCOME/(LOSS) PER COMMON SHARE

We calculate basic income/(loss) per share using the weighted average number of common shares outstanding during each period. Diluted earnings per share assumes the conversion, exercise or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method), the exercise of warrants (using the if-converted method) and the vesting of stock awards.

 

For the Year Ended March 31,

 

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income/(loss) from continuing operations

 

$

(65,221,463

)

 

$

(5,350,176

)

 

$

3,622,641

 

Less: Preferred stock dividends

 

 

(3,105,036

)

 

 

(3,122,049

)

 

 

(3,105,034

)

Net income/(loss) before discontinued operations

 

 

(68,326,499

)

 

 

(8,472,225

)

 

 

517,607

 

Net loss from discontinued operations, net of tax

 

 

(65,612,137

)

 

 

(11,243,433

)

 

 

(12,389,327

)

Net loss attributable to common stockholders

 

$

(133,938,636

)

 

$

(19,715,658

)

 

$

(11,871,720

)

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock - Basic

 

 

117,642,232

 

 

 

118,249,486

 

 

 

117,177,885

 

Effect of dilutive common stock purchase warrants

 

 

-

 

 

 

-

 

 

 

-

 

Effect of dilutive equity incentive awards

 

 

-

 

 

 

-

 

 

 

-

 

 Weighted average shares of common stock - Diluted

 

 

117,642,232

 

 

 

118,249,486

 

 

 

117,177,885

 

 

 

 

 

 

 

 

 

 

 

Basic loss per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.58

)

 

$

(0.07

)

 

$

0.00

 

Discontinued operations

 

$

(0.56

)

 

$

(0.10

)

 

$

(0.11

)

Total basic loss per share attributable to common stockholders

 

$

(1.14

)

 

$

(0.17

)

 

$

(0.11

)

 

 

 

 

 

 

 

 

 

 

Diluted loss per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.58

)

 

$

(0.07

)

 

$

0.00

 

Discontinued operations

 

$

(0.56

)

 

$

(0.10

)

 

$

(0.11

)

Total diluted loss per share attributable to common stockholders

 

$

(1.14

)

 

$

(0.17

)

 

$

(0.11

)

 

The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders:

 

For the Year Ended March 31,

 

 

2025

 

 

2024

 

 

2023

 

Common stock options

 

 

275,000

 

 

 

175,000

 

 

 

-

 

Non-vested stock awards

 

 

215,196

 

 

 

1,540,524

 

 

 

2,204,659

 

Warrants

 

 

1,721,296

 

 

 

1,808,870

 

 

 

2,560,986

 

Total shares excluded from diluted net loss per share

 

 

2,211,492

 

 

 

3,524,394

 

 

 

4,765,645