INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Jun. 30, 2026

NOTE 3 – INCOME (LOSS) PER COMMON SHARE

We calculate basic income/(loss) per share using the weighted average number of shares of common stock outstanding during each period. Diluted earnings per share assumes the conversion, exercise or issuance of all potential common stock equivalents, unless the effect is to reduce a loss or increase the income per share. Potential shares of common stock consist of the incremental shares of common stock issuable upon the exercise of stock options (using the treasury stock method), the exercise of warrants (using the if-converted method), and the vesting of restricted stock unit awards.


	For the Three Months Ended June 30,
	2026			2025
	(Unaudited)
Numerator:
Net income (loss) from continuing operations	$	3,574,061		$	(5,862,693	)
Less: Preferred stock dividends		(765,625	)		(774,132	)
Net income (loss) before discontinued operations	$	2,808,436		$	(6,636,825	)
Net loss from discontinued operations, net of tax		—			(595,634	)
Net income (loss) attributable to common stock shareholders	$	2,808,436		$	(7,232,459	)

Denominator:
Weighted average shares of common stock - basic		116,490,584			116,841,148
Effect of dilutive common stock purchase warrants		7,305,107			-
Effect of dilutive equity incentive awards		234,296			-
Weighted average shares of common stock - diluted		124,029,987			116,841,148

Basic income (loss) per share attributable to common stock shareholders:
Continuing operations	$	0.02		$	(0.06	)
Discontinued operations	$	-		$	-
Total basic income (loss) per share attributable to common stock shareholders	$	0.02		$	(0.06	)

Diluted income (loss) per share attributable to common stock shareholders:
Continuing operations	$	0.02		$	(0.06	)
Discontinued operations	$	-		$	-
Total diluted income (loss) per share attributable to common stock shareholders	$	0.02		$	(0.06	)

The following table presents the number of shares excluded from the calculation of diluted net income (loss) per share attributable to common stockholders:


	For the Three Months Ended June 30,
	2026		2025

Common stock options		400,000		400,000
Non-vested stock awards		-		-
Warrants		-		8,720,345
Total shares excluded from net income (loss) per share attributable to common stock shareholders		400,000		9,120,345