v3.25.1
Net Loss Per Share
 9 Months Ended 12 Months Ended
Dec. 31, 2024
Mar. 31, 2024
Net Loss Per Share [Abstract]    
Net loss per share
27 Net loss per share

 

The components of basic and diluted loss per share were as follows: (In USD, except loss per share)

 

  Three months ended
December 31,		   Nine months ended
December 31,		 
(In USD, except loss per share)  2024   2023   2024   2023 
Net loss available for common shareholders (A)  $(7,922,063)  $14,425,439   $(13,805,617)  $(26,757,978)
Weighted average outstanding shares of common stock (B)   111,175    2,135    70,326    1,232 
Dilutive effect of potentially dilutive outstanding securities   
-
    6,430    
-
    
-
 
Common stock and common stock equivalents (C)   111,175    8,565    70,326    1,232 
Loss per share                    
Basic (A/B)  $(71.26)  $6,757.63   $(196.31)  $(21,717.35)
Diluted (A/C)  $(71.26)  $1,684.29   $(196.31)  $(21,717.35)

Share related amounts have been retroactively adjusted to reflect this reverse stock-split for all periods presented.

 

Since the Company was in a loss position for the three months and nine months ended December 31, 2024 and nine months ended December 31, 2023, basic loss per share was same as diluted net loss per share for the periods presented. The following potentially dilutive outstanding securities as of December 31, 2024 and December 31, 2023 were excluded from the computation of diluted loss per share except for three months ended December 31,2023, because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period.

 

   Three months ended
December 31,		   Nine months ended
December 31,		 
   2024   2023   2024   2023 
Convertible preferred stock   
-
    
-
    
-
    
-
 
Preferred stock warrants   
-
    
-
    
-
    
-
 
Stock options*   11    1    11    1 
SSCPN   
-
    
-
    
-
    
-
 
Public warrants   11,500,000    11,500,000    11,500,000    11,500,000 
Private warrants*   19,416    644    19,416    214 
Unsecured convertible note   
-
    35    
-
    12 
Warrants issued along with redeemable promissory note   75,000    
-
    55,909    
-
 
Warrants issued in November 2024 and December 2024 offering   204,551    
-
    68,432    
-
 
Total   11,798,977    11,500,680    11,643,768    11,500,226 

 

*The computation of diluted earnings per common share excludes the 11 common stock options (204 prior to Second Reverse Stock Split and 20,425 prior to First Reverse Stock Split) for the three months and nine months ended December 31, 2024 respectively and 1 common stock option (7 prior to Second Reverse Stock Split and 674 prior to First Reverse Stock Split) for the three months and 1 common stock option (2 prior to Second Reverse Stock Split and 224 prior to First Reverse Stock Split) for the nine months ended December 31, 2023 respectively and the 19,416 private warrants (380,011 prior to Second Reverse Stock Split and 37,956,206 prior to First Reverse Stock Split) for the three months and nine months ended December 31, 2024 respectively and 35 private warrants (12,876 prior to Second Reverse Stock Split and 1,287,616 prior to First Reverse Stock Split) for the three months and 12 private warrants (4,276 prior to Second Reverse Stock Split and 427,639 prior to First Reverse Stock Split) for nine months ended December 31, 2023 respectively.
29Net loss per share

 

The components of basic and diluted loss per share were as follows:  

 

(In USD, except loss per share)        
   March 31,
2024		   March 31,
2023		 
Net loss available for common shareholders (A)  $(34,277,252)  $(62,032,076)
Weighted average outstanding shares of common stock (B)   8,927    804 
Dilutive effect of stock-based awards   
-
    
-
 
Common stock and common stock equivalents (C)   8,927    804 
Loss per share          
Basic (A/B)  $(3,839.73)  $(77,145.64)
Diluted (A/C)  $(3,839.73)  $(77,145.64)

 

Share related amounts have been retroactively adjusted to reflect the Reverse Stock-split for all periods presented. 

 

Since the Company was in a loss position for the year ended March 31, 2024 and March 31, 2023 basic loss per share was same as diluted net loss per share for the periods presented. The following potentially dilutive outstanding securities as of March 31, 2024 and March 31, 2023 were excluded from the computation of diluted loss per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period.

  

As at  March 31,
2024		   March 31,
2023		 
Convertible preferred stock   
-
    3,201,201 
Preferred stock warrants   
-
    1,037,177 
Stock options   11    8 
SSCPN   
-
    15,307 
Public warrants   11,500,000    
-
 
Private warrants   19,416    
-
 
Unsecured convertible note   1,653    
-
 
Derivative financial instruments   
-
    18,369 
Total   11,521,080    4,272,062 

 

*The computation of diluted earnings per common share excludes the 11 common stock options (204 prior to Second Reverse Stock Split and 20,425 prior to First Reverse Stock Split) for the period ended March 31, 2024 and 8 common stock options (146 prior to Second Reverse Stock Split and 14,645 prior to First Reverse Stock Split) for the period ended March 31, 2023 and the 19,416 private warrants (380,011 prior to Second Reverse Stock Split and 37,956,206 prior to First Reverse Stock Split) for the period ended March 31, 2024 and NIL private warrants for the period ended March 31, 2023 and 1,653 (33,058 prior to the Second Reverse Stock Split and 3,305,765 prior to First Reverse Stock Split) shares issuable upon conversion of unsecured converstible note for the year ended March 31, 2024 and Nil for the year ended March 31, 2023.