Basic and Diluted Net Income (Loss) Per Common Share

9 Months Ended

Dec. 31, 2017

Basic and Diluted Net Income (Loss) Per Common Share

NOTE 2 — BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE

Basic net income/(loss) per common share is computed by dividing net income/(loss) by the weighted average number of common shares outstanding during the period. Diluted net income/(loss) per common share is computed giving effect to all potentially dilutive common shares that were outstanding during the period that are not anti-dilutive. Potentially dilutive common shares consist of incremental shares issuable upon exercise of stock options, vesting of restricted shares or conversion of convertible notes outstanding.

In computing diluted net income per share for the three months ended December 31, 2017 and 2016, no adjustment has been made to the weighted average outstanding common shares for the assumed conversion of convertible notes as assumed conversion of these securities is anti-dilutive.

Potential common shares not included in calculating diluted net income per share are as follows:

	Three months ended December 31,
	2017		2016
Stock options		—		—
Unvested restricted stock		—		—
5% Convertible notes		833,333		1,861,111

Total		833,333		1,861,111

In computing diluted net (loss) per share for the nine months ended December 31, 2017 and 2016, no adjustment has been made to the weighted average outstanding common shares for the assumed conversion of exercise of stock options, vesting of restricted shares and convertible notes is anti-dilutive.

Potential common shares not included in calculating diluted net loss per share are as follows:

	Nine months ended December 31,
	2017		2016
Stock options		15,494,108		15,907,696
Unvested restricted stock		1,092,000		—
5% Convertible notes		833,333		1,861,111

Total		17,419,441		17,768,807