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INCOME (LOSS) PER COMMON SHARE
 6 Months Ended
Sep. 30, 2025
Net Loss per share  
INCOME (LOSS) PER COMMON SHARE

NOTE 3 – INCOME (LOSS) PER COMMON SHARE

We calculate basic income/(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 shares of common stock consist of the incremental shares of common stock 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 September 30,

 

 

For the Six Months Ended September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(Unaudited)

 

 

(Unaudited)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) from continuing operations

 

$

1,404,828

 

 

$

(5,868,205

)

 

$

(4,457,865

)

 

$

(17,865,230

)

Less: Preferred stock dividends

 

 

(748,611

)

 

 

(782,640

)

 

 

(1,522,743

)

 

 

(1,556,773

)

Net income (loss) before discontinued operations

 

 

656,217

 

 

 

(6,650,845

)

 

$

(5,980,608

)

 

$

(19,422,003

)

Net loss from discontinued operations, net of tax

 

 

—

 

 

 

(6,559,908

)

 

 

(595,634

)

 

 

(9,322,858

)

Net income (loss) attributable to common stockholders

 

$

656,217

 

 

$

(13,210,753

)

 

$

(6,576,242

)

 

$

(28,744,861

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock - basic

 

 

117,110,827

 

 

 

118,728,976

 

 

 

116,976,725

 

 

 

118,916,210

 

Effect of dilutive common stock purchase warrants

 

 

590,095

 

 

 

-

 

 

 

-

 

 

 

-

 

Effect of dilutive equity incentive awards

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 Weighted average shares of common stock - diluted

 

 

117,700,922

 

 

$

118,728,976

 

 

 

116,976,725

 

 

 

118,916,210

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.01

 

 

$

(0.06

)

 

$

(0.05

)

 

$

(0.16

)

Discontinued operations

 

$

-

 

 

$

(0.05

)

 

$

(0.01

)

 

$

(0.08

)

Total basic income (loss) per share attributable to common stockholders

 

$

0.01

 

 

$

(0.11

)

 

$

(0.06

)

 

$

(0.24

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income (loss) per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.01

 

 

$

(0.06

)

 

$

(0.05

)

 

$

(0.16

)

Discontinued operations

 

$

-

 

 

$

(0.05

)

 

$

(0.01

)

 

$

(0.08

)

Total diluted income (loss) per share attributable to common stockholders

 

$

0.01

 

 

$

(0.11

)

 

$

(0.06

)

 

$

(0.24

)

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,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock options

 

 

400,000

 

 

 

225,000

 

 

 

400,000

 

 

 

225,000

 

Non-vested stock awards

 

 

-

 

 

 

783,668

 

 

 

-

 

 

 

783,668

 

Warrants

 

 

8,720,345

 

 

 

1,721,296

 

 

 

21,720,345

 

 

 

1,721,296

 

Total shares excluded from net income (loss) per share attributable to common stockholders

 

 

9,120,345

 

 

 

2,729,964

 

 

 

22,120,345

 

 

 

2,729,964