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EARNINGS PER SHARE | 9 Months Ended
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Jun. 30, 2021
Net Income (Loss) per share: |
Note - 16 EARNINGS PER SHARE | NOTE 16 – EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share for the following periods:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | June 30, |  |  | June 30, |  |  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Basic: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) continuing operations |  | $ | 1,537,288 |  |  | $ | (8,944,921 | ) |  | $ | (20,368,808 | ) |  | $ | 18,909,818 |
Preferred dividends paid |  |  | 560,281 |  |  |  | 100,050 |  |  |  | 1,220,610 |  |  |  | 266,800 |
Net income (loss) continuing operations adjusted for preferred dividend |  |  | 977,007 |  |  |  | (9,044,971 | ) |  |  | (21,589,418 | ) |  |  | 18,643,018 |
Net income (loss) discontinued operations |  |  | - |  |  |  | (7,781 | ) |  |  | - |  |  |  | (48,983 | )
Net income (loss) attributable to cbdMD Inc. common shareholders |  |  | 977,007 |  |  |  | (9,052,752 | ) |  |  | (21,589,418 | ) |  |  | 18,594,035 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) continuing operations |  |  | 977,007 |  |  |  | (9,044,971 | ) |  |  | (21,589,418 | ) |  |  | 18,643,018 |
Net income (loss) discontinued operations |  |  | - |  |  |  | (7,781 | ) |  |  | - |  |  |  | (48,983 | )
Net income (loss) |  |  | 977,007 |  |  |  | (9,052,752 | ) |  |  | (21,589,418 | ) |  |  | 18,594,035 |
Shares used in computing basic earnings per share |  |  | 56,676,326 |  |  |  | 51,335,548 |  |  |  | 54,089,263 |  |  |  | 41,411,261 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Options |  |  | 64,833 |  |  |  | - |  |  |  | - |  |  |  | 33,222 |
Warrants |  |  | 22,884 |  |  |  | - |  |  |  | - |  |  |  | 256,536 |
Convertible preferred shares |  |  | 4,667,600 |  |  |  | 833,500 |  |  |  | - |  |  |  | 833,500 |
Shares used in computing diluted earnings per share |  |  | 61,431,643 |  |  |  | 52,169,048 |  |  |  | 54,089,263 |  |  |  | 42,534,519 |
Earnings per share Basic: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continued operations |  |  | 0.02 |  |  |  | (0.18 | ) |  |  | (0.40 | ) |  |  | 0.45 |
Discontinued operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Basic earnings per share |  |  | 0.02 |  |  |  | (0.18 | ) |  |  | (0.40 | ) |  |  | 0.45 |
Earnings per share Dliuted: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Continued operations |  |  | 0.02 |  |  |  | - |  |  |  | - |  |  |  | 0.44 |
Discontinued operations |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted earnings per share |  |  | 0.02 |  |  |  | - |  |  |  | - |  |  |  | 0.44 |
At the three and nine months ended June 30, 2021, 4,292,361 potential shares underlying options, unvested RSUs and warrants as well as 4,667,600 convertible preferred shares were excluded from the shares used to calculate diluted loss per share as their inclusion would reduce net loss per share.

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