20. Earnings/(Loss) Per Share (“EPS”)

Basic EPS represents net income/(loss) attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period. Our restricted stock shares include rights to receive dividends that are subject to the risk of forfeiture if service requirements are not satisfied, thus these shares are not considered participating securities and are excluded from the basic weighted-average shares outstanding calculation. Diluted EPS represent net income/(loss) attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period while also giving effect to all potentially dilutive common shares that were outstanding during the period.

The calculations of basic and diluted EPS for the periods presented were as follows:


	Year ended
(In U.S. dollars except share data)	March 31, 2019		March 31, 2018		March 31, 2017
Numerator:
Net loss	$	(50,945,905)	$	(20,400,686)	$	(1,441,815)
Denominator:
Basic and diluted weighted average number of common shares outstanding		54,513,118		54,039,886		54,079,139
EPS:
Basic and diluted weighted average number of common shares outstanding	$	(0.93)	$	(0.38)	$	(0.03)

For the years ended March 31, 2019, 2018 and 2017, there were 641,013, 918,334 and 1,114,625 shares of unvested restricted stock, respectively, excluded from the calculation of diluted EPS because the effect of their inclusion would be anti-dilutive.