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LOSS PER COMMON SHARE | 9 Months Ended
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Dec. 31, 2024
Net Loss per share |
LOSS PER COMMON SHARE | NOTE 3 – LOSS PER COMMON SHARE We calculate basic loss per share using the weighted-average number of shares of common stock 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 December 31, |  |  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (26,128,782 | ) |  | $ | (2,405,778 | ) |  | $ | (53,316,870 | ) |  | $ | (11,375,807 | )
Less: Preferred stock dividends |  |  | (782,640 | ) |  |  | (782,639 | ) |  |  | (2,339,411 | ) |  |  | (2,339,410 | )
Net loss attributable to common stock holders |  | $ | (26,911,422 | ) |  | $ | (3,188,417 | ) |  | $ | (55,656,281 | ) |  | $ | (13,715,217 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock - basic |  |  | 116,214,522 |  |  |  | 118,447,154 |  |  |  | 118,012,373 |  |  |  | 118,110,943 |
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 |  |  | 116,214,522 |  |  |  | 118,447,154 |  |  |  | 118,012,373 |  |  |  | 118,110,943 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Loss per share attributable to common stockholders - basic |  | $ | (0.23 | ) |  | $ | (0.03 | ) |  | $ | (0.47 | ) |  | $ | (0.12 | )
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Loss per share attributable to common stockholders - diluted |  | $ | (0.23 | ) |  | $ | (0.03 | ) |  | $ | (0.47 | ) |  | $ | (0.12 | )
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 December 31, |  |  | For the Nine Months Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Common stock options |  |  | 250,000 |  |  |  | 150,000 |  |  |  | 199,750 |  |  |  | 150,000 |
Non-vested stock awards |  |  | 509,086 |  |  |  | 1,573,858 |  |  |  | 552,149 |  |  |  | 1,573,858 |
Warrants |  |  | 1,721,296 |  |  |  | 2,356,336 |  |  |  | 1,738,212 |  |  |  | 2,356,336 |
Total shares excluded from net loss per share attributable to common stockholders |  |  | 2,480,382 |  |  |  | 4,080,194 |  |  |  | 2,490,111 |  |  |  | 4,080,194 |

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