LOSS PER COMMON SHARE

6 Months Ended

Sep. 30, 2024

NOTE 3 – LOSS PER COMMON SHARE

We calculate basic 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 Three Months Ended September 30,						For the Six Months Ended September 30,
	2024			2023			2024			2023

Numerator:
Net Loss	$	(12,428,113	)	$	(7,665,967	)	$	(27,188,088	)	$	(8,970,029	)
Less: Preferred stock dividends		(782,640	)		(782,639	)		(1,556,773	)		(1,556,771	)
Net loss attributable to common stock holders	$	(13,210,753	)	$	(8,448,606	)	$	(28,744,861	)	$	(10,526,800	)

Denominator:
Weighted average shares of common stock - basic		118,728,976			118,167,228			118,916,210			117,713,805
Effect of dilutive common stock purchase warrants		-			-			-			-
Effect of dilutive contingently issuable common stock		-			-			-			-
Effect of dilutive equity incentive awards		-			-			-			-
Weighted average shares of common stock – Diluted		118,728,976			118,167,228			118,916,210			117,713,805

Basic earnings per share:
Loss per share attributable to common stockholders - basic	$	(0.11	)	$	(0.07	)	$	(0.24	)	$	(0.09	)

Diluted earnings per share:
Loss per share attributable to common stockholders - diluted	$	(0.11	)	$	(0.07	)	$	(0.24	)	$	(0.09	)

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 September 30,				For the Six Months Ended September 30,
	2024		2023		2024		2023

Common stock options		225,000		125,000		225,000		125,000
Non-vested stock awards		783,668		1,517,180		783,668		1,517,180
Warrants		1,721,296		2,356,336		1,721,296		2,356,336
Total shares excluded from net income (loss) per share attributable to common stockholders		2,729,964		3,998,516		2,729,964		3,998,516