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INCOME (LOSS) PER COMMON SHARE | 3 Months Ended
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Jun. 30, 2024
Net Loss per share |
INCOME (LOSS) PER COMMON SHARE | NOTE 4 – 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 restricted stock unit awards
|  | For the Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
|  | (Restated) |  |  |  |
Numerator: |  |  |  |  |  |
Net loss |  | $ | (14,759,975 | ) |  | $ | (1,304,062 | )
Less: Preferred stock dividends |  |  | (774,132 | ) |  |  | (774,132 | )
Net loss attributable to common shareholders |  | $ | (15,534,107 | ) |  | $ | (2,078,194 | )
Denominator: |  |  |  |  |  |
Weighted average shares of common stock - basic |  |  | 119,105,502 |  |  |  | 117,713,805 |
Effect of dilutive common stock purchase warrants |  |  | - |  |  |  | - |
Effect of dilutive equity incentive awards |  |  | - |  |  |  | - |
Effect of dilutive common stock purchase options |  |  | - |  |  |  | - |
|  |  | 119,105,502 |  |  |  | 117,713,805 |
Earnings per share: |  |  |  |  |  |
Loss per share attributable to common shareholders - basic |  | $ | (0.13 | ) |  | $ | (0.02 | )
Loss per share attributable to common shareholders - diluted |  | $ | (0.13 | ) |  | $ | (0.02 | )
The following table presents the number of shares excluded from the calculation of diluted net loss per share attributable to common stockholders:
|  | For the Three Months Ended, |
|  | 2024 |  |  | 2023 |
|  | (Restated) |  |  |  |
Common stock options |  |  | 200,000 |  |  |  | - |
Non-vested stock awards |  |  | 1,032,191 |  |  |  | 2,040,503 |
Warrants |  |  | 1,731,370 |  |  |  | 2,356,336 |
Total shares excluded from net income (loss) per share attributable to common stockholders |  |  | 2,963,561 |  |  |  | 4,396,839 |

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