Earnings (Loss) Per Share (Tables)

9 Months Ended

Nov. 30, 2024

Schedule of Basic and Diluted Earnings Per Share

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


	Three Months Ended				Nine Months Ended
	November 30, 2024		November 30, 2023		November 30, 2024		November 30, 2023
Net income (loss) from continuing operations for basic and diluted earnings (loss) per share available to common shareholders	$	12	$	8	$	(1)	$	20
Less: Prior Debentures fair value adjustment (1) (2) (3)	—		(13)		—		—
Add: interest expense on Debentures (1) (2) (3)	—		1		—		—
Net income (loss) from continuing operations for diluted earnings (loss) per share available to common shareholders	$	12	$	(4)	$	(1)	$	20

Net loss for basic and diluted loss per share available to common shareholders	$	(11)	$	(21)	$	(72)	$	(74)
Less: Prior Debentures fair value adjustment (1) (2) (3)	—		(13)		—		—
Add: interest expense on Debentures (1) (2) (3)	—		1		—		—
Net loss for diluted loss per share available to common shareholders	$	(11)	$	(33)	$	(72)	$	(74)

Weighted average number of shares outstanding (000’s) - basic (5)	591,240		584,331		590,537		583,559
Effect of dilutive securities (000’s)
Stock-based compensation (4) (5)	2,290		—		—		5,272
Conversion of 2020 Debentures (1) (2)	—		49,469		—		—
Conversion of Extension Debentures (1) (3)	—		4,670		—		1,182
Weighted average number of shares and assumed conversions (000’s) diluted	593,530		638,470		590,537		590,013

Earnings (loss) per share - reported
Basic earnings per share from continuing operations	$	0.02	$	0.01	$	—	$	0.03
Total basic loss per share	$	(0.02)	$	(0.04)	$	(0.12)	$	(0.13)

Diluted earnings (loss) per share from continuing operations	$	0.02	$	(0.01)	$	—	$	0.03
Total diluted loss per share	$	(0.02)	$	(0.05)	$	(0.12)	$	(0.13)

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(1) 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 and nine months ended November 30, 2024 and nine months ended November 30, 2023, as to do so would be antidilutive. See Note 6 for details on the Debentures.

(2) The Company has presented the dilutive effect of the 2020 Debentures using the if-converted method for the period the 2020 Debentures were outstanding, assuming conversion at the beginning of the quarter for the three months ended November 30, 2023. Accordingly, to calculate diluted loss per share, the Company adjusted net loss by eliminating the fair value adjustment made to the 2020 Debentures and interest expense incurred on the 2020 Debentures for the three months ended November 30, 2023, and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 6 for details on the 2020 Debentures.

(3) The Company has presented the dilutive effect of the Extension Debentures using the if-converted method for the period the Extension Debentures were outstanding, assuming conversion at the issuance date for the three and nine months ended November 30, 2023. Accordingly, to calculate diluted loss per share, the Company adjusted net loss by

eliminating the fair value adjustment made to the Extension Debentures and interest expense incurred on the Extension Debentures for the three and nine months ended November 30, 2023 and added the number of shares that would have been issued upon conversion to the diluted weighted average number of shares outstanding. See Note 6 for details on the Extension Debentures.

(4) 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 nine months ended November 30, 2024 and the three months ended November 30, 2023, as to do so would be antidilutive.

(5) The Company has 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 November 30, 2024 and the nine months ended November 30, 2023.