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LOSS PER SHARE

9 Months Ended

Jun. 30, 2023

LOSS PER SHARE

NOTE 10 – LOSS PER SHARE

Earnings per common share (“EPS”) is computed by dividing net income allocated to common stockholders by the weighted-average common shares outstanding. Diluted EPS is computed by dividing income allocated to common stockholders plus dividends on dilutive convertible preferred stock and preferred stock that can be tendered to exercise warrants, by the weighted-average common shares outstanding plus amounts representing the dilutive effect of outstanding warrants and the dilution resulting from the conversion of convertible preferred stock, if applicable.

For the three and nine months ended June 30, 2023 and 2022, the convertible debt and shares of Preferred Stock were excluded from the diluted share count because the result would have been antidilutive under the “if-converted method.” The warrants to purchases shares of common stock also were excluded from the computation because the result would have been antidilutive.

The following table presents the reconciliation of net income attributable to common stockholders to net income used in computing basic and diluted net income per share of common stock (giving effect to the Reverse Stock Splits – see Note 1):


		Three months ended June 30,						Nine months ended June 30,
		2023			2022			2023			2022
Net income attributable to common stockholders		$	(308,858,234)		$	(4,847,151)		$	(800,047,339)		$	(485,517,181)
Less: accumulated preferred stock dividends			(13,125)			(2,285,792)			7,387,811			(37,541,085)
Net income used in computing basic net income per share of common stock		$	(308,871,359)		$	(7,132,943)		$	(792,659,528)		$	(523,058,266)

Net loss per share			(11.14)		$	(4.26)		$	(55.44)		$	(694.20)

Weighted average shares outstanding, basic and diluted			27,720,475			1,674,607			14,296,659			753,474

Weighted average shares outstanding, basic and diluted, before reverse stock splits, see Note 1			6,237,106,875			376,786,685			3,216,748,275			169,531,688
Net loss per share before reverse stock splits		$	(0.05)		$	(0.02)		$	(0.25)		$	(3.09)