Earnings (Loss) Per Share (Tables)

3 Months Ended

May 31, 2023

Schedule of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted loss per share:


	Three Months Ended
	May 31, 2023		May 31, 2022
Net loss for basic loss per share available to common shareholders	$	(11)	$	(181)
Less: Debentures fair value adjustment (1) (2)	—		(46)
Add: interest expense on Debentures (1) (2)	—		2
Net loss for diluted loss per share available to common shareholders	$	(11)	$	(225)

Weighted average number of shares outstanding (000’s) - basic (3)	582,812		576,877
Effect of dilutive securities (000’s)

Conversion of Debentures (1) (2)	—		60,833
Weighted average number of shares and assumed conversions (000’s) diluted	582,812		637,710
Loss per share - reported
Basic	$	(0.02)	$	(0.31)
Diluted	$	(0.02)	$	(0.35)

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(1) The Company has presented the dilutive effect of the Debentures using the if-converted method, assuming conversion at the beginning of the quarter for the three months ended May 31, 2022. Accordingly, to calculate diluted loss per share, the Company adjusted net loss by eliminating the fair value adjustment made to the Debentures and interest expense incurred on the Debentures for the three months ended May 31, 2022, and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 5 for details on the Debentures.

(2) The Company has not presented the dilutive effect of the Debentures using the if-converted method in the calculation of diluted loss per share for the three months ended May 31, 2023, as to do so would be antidilutive. See Note 5 for details on the Debentures.

(3) The Company has not presented the dilutive effect of in-the-money options and RSUs that will be settled upon vesting by the issuance of new common shares in the calculation of diluted loss per share for the three months ended May 31, 2023 and May 31, 2022, as to do so would be antidilutive.