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LOSS PER COMMON SHARE

9 Months Ended

Jun. 30, 2021

LOSS PER COMMON SHARE

H. LOSS PER COMMON SHARE

H. LOSS PER COMMON SHARE

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

		Nine months ended June 30,								Three months ended June 30,
		2021				2020				2021				2020
Loss per share - basic
Net loss available to common shareholders - basic		$	(28,507,113	)		$	(24,897,891	)		$	(9,203,350	)		$	(10,276,979	)
Weighted average shares outstanding - basic			39,907,624				36,230,992				41,020,485				37,453,539
Basic loss per common share		$	(0.71	)		$	(0.69	)		$	(0.22	)		$	(0.27	)
Loss per share - diluted
Net loss available to common shareholders - basic		$	(28,507,113	)		$	(24,897,891	)		$	(9,203,350	)		$	(10,276,979	)
Unrealized gain on derivatives (1)			(1,236,514	)			-				(1,233,597	)			-
Net loss available to common shareholders - diluted		$	(29,743,627	)		$	(24,897,891	)		$	(10,436,947	)		$	(10,276,979	)
Weighted average shares outstanding - basic			39,907,624				36,230,992				41,020,485				37,453,539
Incremental shares underlying dilutive “in the money” warrants (1)			250,697				-				210,597				-
Weighted average shares outstanding - diluted			40,158,321				36,230,992				41,231,082				37,453,539
Diluted loss per common share		$	(0.74	)		$	(0.69	)		$	(0.25	)		$	(0.27	)

(1) Includes shares issuable upon the exercise of the Series Z, AA, BB, CC and HH warrants for the nine and three months ended June 30, 2021.

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 June 30:

		2021				2020
Options and Warrants			6,979,170				7,651,718
Unvested Restricted Stock			166,500				311,873
Total			7,145,670				7,963,591

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- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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