Earnings (Loss) Per Share

9 Months Ended

Dec. 31, 2019

Loss Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

Note 22 – Earnings (LOSS) PER SHARE

The Company reports earnings per share in accordance with the provisions of the FASB's related accounting standard. This standard requires presentation of basic and diluted earnings per share in conjunction with the disclosure of the methodology used in computing such earnings per share. Basic earnings per share excludes dilution, but includes vested restricted stocks and is computed by dividing income available to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock.

The following is a reconciliation of the basic and diluted earnings (loss) per share computation:

	Three months ended December 31,					Nine months ended December 31,
	2019		2018			2019			2018
Net income (loss) attributable to controlling interest	$	531,782	$	(1,678,231	)	$	(2,828,132	)	$	(3,911,501	)
Weighted average shares used in basic computation		32,936,786		28,936,778			32,776,786			28,936,778
Diluted effect of purchase options and warrants		-		-			-			-
Weighted average shares used in diluted computation		32,936,786		28,936,778			32,776,786			28,936,778
Income per share – Basic:
Net income (loss) attributable to controlling interest	$	0.02	$	(0.06	)	$	(0.09	)	$	(0.14	)
Loss per share – Diluted:
Net income (loss) attributable to controlling interest	$	0.02	$	(0.06	)	$	(0.09	)	$	(0.14	)

For the three and nine months ended December 31, 2019, 967,000 shares underlying employee stock options and 600,000 shares underlying outstanding purchase warrant to an investor, 72,000 shares underlying outstanding purchase warrant to an investment placement agent and a total of 3,240,006 warrants issued in S-3 financing in April 2019 were excluded from the calculation of diluted loss per share as the warrants were anti-dilutive.