LOSS PER COMMON SHARE

9 Months Ended

Dec. 31, 2024

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