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H. LOSS PER COMMON SHARE

3 Months Ended

Dec. 31, 2019

Net (loss) income per common share

H. LOSS PER COMMON SHARE

The following tables provide the details of the basic and diluted (loss) earnings per-share computations:

		Three months ended December 31,
		2019				2018
(Loss) earnings per share - basic
Net (loss) earnings available to common shareholders - basic		$	(5,475,160	)		$	1,245,902
Weighted average shares outstanding - basic			35,084,279				27,985,327
Basic (loss) earnings per common share		$	(0.16	)		$	0.04
(Loss) earnings per share - diluted
Net (loss) earnings available to common shareholders - basic		$	(5,475,160	)		$	1,245,902
Gain on derivatives (1)			(243	)			(723,879	)
Net (loss) earnings available to common shareholders - diluted		$	(5,474,403	)		$	522,023
Weighted average shares outstanding - basic			35,084,279				27,985,327
Incremental shares underlying dilutive - warrants and options (1)			14,329				1,944,026
Weighted average shares outstanding - diluted			35,098,608				29,929,353
Diluted (loss) earnings per common share		$	(0.16	)		$	0.02
(1) Includes Series LL warrants for the three months ended December 31, 2019 and Series GG, HH, II, JJ and KK warrants for the three months ended December 31, 2018.

The gain on derivatives priced lower than the average market price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share.

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of December 31:

		2019				2018
Options and Warrants			7,009,959				3,175,384
Unvested Restricted Stock			304,500				312,000
Total			7,314,459				3,487,384

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Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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