Pursuant
to ASC 260-10-45, basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares
of common stock outstanding for the periods presented.
Diluted
earnings per share is computed by dividing net income by the weighted average number of shares of common stock, common stock equivalents
and potentially dilutive securities outstanding during the period. Potentially dilutive common shares may consist of common stock issuable
for stock options and warrants (using the treasury stock method), convertible notes and common stock issuable. These common stock equivalents
may be dilutive in the future. In the event of a net loss, diluted loss per share is the same as basic loss per share since the effect
of the potential common stock equivalents upon conversion would be anti-dilutive.
The following
potentially dilutive equity securities outstanding as of March 31, 2022 and 2021 were as follows:
| March 31, 2022 | March 31, 2021 | |||
| Convertible notes payable and accrued interest | 173,045 | 766,943 | ||
| Stock Options | 1,148,799 | 302,159 | ||
| Warrants | 4,471,050 | 466,636 | ||
| Total common stock equivalents | 5,792,894 | 1,535,738 |
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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