Quarterly report pursuant to Section 13 or 15(d)

INCOME (LOSS) PER COMMON SHARE

v3.20.4
INCOME (LOSS) PER COMMON SHARE
6 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
INCOME (LOSS) PER COMMON SHARE

NOTE 15 – INCOME (LOSS) PER COMMON SHARE 

 

The calculation of income (loss) per share for the three and six months ended September 30, 2020, and 2019 was as follows:

 

    Three Months Ended     Six Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Numerator:                                
Net (loss) before Discontinued Operations   $ (2,056,508 )   $ (1,038,732 )   $ (3,651,140 )   $ (2,326,330 )
Discontinued Operations           761,768             761,768  
Net (Loss)     (2,056,508 )     (276,964 )     (3,651,140 )     (1,564,562 )
Less preferred dividends     (1,651,219 )     (1,893,886 )     (3,331,975 )     (3,771,941 )
Net loss attributable to common stockholders   $ (3,707,727 )   $ (2,170,850 )    $ (6,983,115 )   $ (5,336,503 )
                                 
Denominator   $       $       $       $    
Weighted average share – basic     19,815,872       493,300       13,705,461       259,432  
                                 
Dilutive effect of common stock equivalents                                
Options/warrants                        
Preferred C shares                        
                                 
Denominator                                
Total Weighted average shares – diluted     19,815,872       493,300       13,705,461       259,432  
Income (loss) per share – basic                                
Continuing operations   $ (0.19 )   $ (5.94 )   $ (0.51 )   $ (23.51 )
Discontinued Operations           1.54             2.94  
Total     (0.19 )     (4.40 )     (0.51 )     (20.57 )
Income (loss) per share – diluted                                
Continuing Operations   $ (0.19 )   $ (5.94 )   $ (0.51 )   $ (23.51 )
Discontinued Operations           1.54             2.94  
Total     (0.19)       (4.40 )     (0.51 )     (20.57 )

 

For the three and six months ended September 30, 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.

 

    Three Months Ended     Six Months Ended  
    September 30,     September 30,  
    2020     2019     2020     2019  
Common Shares Issuable for:                                
Convertible Debt     276       276       276       276  
Options and Warrants     38       38       38       38  
Series C Preferred Shares(1)     47,033,410,723       1,130,378,205       47,033,410,723       1,130,378,205  
Total     47,033,411,037       1,130,378,519       47,033,411,037       1,130,378,519  

 

  (1) Based on the lowest possible conversion rate of the Series C Preferred Stock ($0.001 per share, the par value of the common stock).