Quarterly report pursuant to Section 13 or 15(d)

INCOME (LOSS) PER COMMON SHARE

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INCOME (LOSS) PER COMMON SHARE
6 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
INCOME (LOSS) PER COMMON SHARE

NOTE 15 – INCOME (LOSS) PER COMMON SHARE

 

The calculation of earnings (loss) per share for the three and six months ended September 30, 2019 and 2018 was as follows:

 

    Three Months Ended   Six Months Ended
    September 30,   September 30,
    2019   2018   2019   2018
Numerator:                
Net Income (loss)   $ (276,964 )   $ 23,228,366     $ (1,564,562 )   $ 19,716,269 )
Less preferred dividends     (1,893,886 )     (896,182 )     (3,771,941 )     (1,595,178 )
Net income (loss) attributable to common stockholders   $ (2,170,850 )   $ 22,332,184     $ (5,336,503 )   $ 18,121,091  
                                 
Denominator                                
Weighted average share – basic     493,300       1,290       259,432       798  
                                 
Dilutive effect of common stock equivalents                                
Options/warrants     —         —         —         1  
Convertible debenture     —         641       —         641  
Preferred C shares     —         2,418       —         2,418  
                                 
Denominator                                
Total Weighted average shares – diluted     493,300       4,349       259,432       3,858  
Income (loss) per share – basic   $ (4.40 )   $ 17,311.77     $ (20.57 )   $ 22,708.13  
Income (loss) per share – diluted   $ (4.40 )   $ 5,135.02     $ (20.57 )   $ 4,697.02  

  

For the three and six months ended September 30, 2019 and 2018, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net income (loss) per share as the inclusion of such shares would be anti-dilutive.

 

    Three Months Ended   Six Months Ended
    September 30,   September 30,
    2019   2018   2019   2018
Common Shares Issuable for:                
Convertible Debt     276       38,758       276       38,758  
Options and Warrants     38       182       38       182  
Series C Preferred Shares     1,130,378,205       72,622,028       1,130,378,205       72,622,028  
  Total     1,130,378,519       72,660,968       1,130,378,519       72,660,968