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INCOME (LOSS) PER COMMON SHARE (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2024
Net Loss per share |
SCHEDULE OF INCOME/(LOSS) PER COMMON SHARE |
|  | 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 |
SUMMARY OF NUMBER OF SHARES EXCLUDED FROM CALCULATION OF DILUTED NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS | 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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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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