Annual report pursuant to Section 13 and 15(d)

INCOME (LOSS) PER COMMON SHARE

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INCOME (LOSS) PER COMMON SHARE
12 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
INCOME (LOSS) PER COMMON SHARE

NOTE 16– INCOME (LOSS) PER COMMON SHARE 

 

The calculation of earnings (loss) per share for the years ended March 31, 2020 and 2019 was as follows:

 

    Year Ended  
    March 31,  
    2020     2019  
Numerator:                
Income (loss)   $ (3,856,299 )   $ 16,643,153  
Less preferred dividends     (7,737,086 )     (5,676,715 )
Net income (loss) attributable to common stockholders   $ (11,593,385 )   $ 10,966,438  
                 
Denominator                
     Weighted average share – basic     2,109,622       3,951  
                 
Dilutive effect of common stock equivalents                
Options/warrants            
Preferred C shares           37,854  
                 
Denominator                
     Total Weighted average shares – diluted     2,109,622       41,805  
Income (loss) per share – basic                
Continuing operations   $ (5.50 )   $ 2,775.61  
Income (loss) per share – diluted                
Continuing Operations   $ (5.50 )   $ 262.32  

 

For the years ended March 31, 2020 and 2019, 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.

 

    2020     2019  
Common Shares Issuable for:                
Convertible Debt     276        
Options and Warrants     38       41  
Series C Preferred Shares     1,218,016,833        
Total     1,218,017,147       41