| Earnings Per Share [Text Block] |
NOTE 10 – LOSS PER SHARE
Earnings (loss) per common share is computed by dividing net income allocated to common stockholders by the weighted average shares of common stock outstanding. Diluted (loss) per common share is computed by dividing income allocated to common stockholders plus dividends on dilutive convertible preferred stock by the weighted-average shares of common stock outstanding plus amounts representing the dilutive effect of outstanding warrants and the dilution resulting from the conversion of convertible preferred stock, if applicable. For the three and nine months ended June 30, 2025, and the comparative periods ending June 30, 2024, outstanding warrants, convertible debt and shares of preferred stock were excluded from the diluted share count because the result would have been antidilutive under the “if-converted method.”
The following table presents the reconciliation of net loss attributable to common stockholders to net loss used in computing basic and diluted net income per share of common stock (giving effect to the reverse stock splits – see Note 1 - Description of business and basis of presentation):
| |
|
Three months ended June 30, |
|
|
Nine months ended June 30, |
|
| |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
| Net loss attributable to common stockholders |
|
$ |
(129,724,816 |
) |
|
$ |
(87,360,817 |
) |
|
$ |
(291,689,264 |
) |
|
$ |
(281,187,675 |
) |
| Less: preferred stock dividends accrued |
|
|
(26,785 |
) |
|
|
(23,066 |
) |
|
|
(76,823 |
) |
|
|
(66,412 |
) |
| Less: financial result from exchange of Series C P/S for Series E P/S |
|
|
— |
|
|
|
(8,604,029 |
) |
|
|
— |
|
|
|
(8,604,029 |
) |
| Less: fair value of common stock issued to avoid fractional shares on reverse stock split (see Note 1 - Description of business and basis of presentation) |
|
|
(71,982 |
) |
|
|
— |
|
|
|
(71,982 |
) |
|
|
— |
|
| Net loss used in computing basic net loss per share of common stock |
|
$ |
(129,823,583 |
) |
|
$ |
(95,987,912 |
) |
|
$ |
(291,838,069 |
) |
|
$ |
(289,858,116 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share |
|
$ |
(11,231.39 |
) |
|
$ |
(95,987,912 |
) |
|
$ |
(74,887.88 |
) |
|
$ |
(289,858,116 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares outstanding, basic and diluted |
|
|
11,559 |
|
|
|
1 |
|
|
|
3,897 |
|
|
|
1 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per share, reported previously, before adjusting to reverse stock splits effectuated in September 2024, February, April, June, and August 2025, see Note 1 - Description of business and basis of presentation |
|
|
N/A |
|
|
$ |
(19.39 |
) |
|
|
N/A |
|
|
$ |
(35.83 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average shares outstanding, basic and diluted, reported previously, before adjusting to reverse stock splits effectuated in September 2024, February, April, June, and August 2025, see Note 1 - Description of business and basis of presentation |
|
|
N/A |
|
|
|
12,134,899 |
|
|
|
N/A |
|
|
|
7,644,049 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|