Earnings (Loss) Per Share

6 Months Ended

Oct. 31, 2018

Earnings per share:

Earnings (Loss) Per Share

NOTE 4 – EARNINGS (LOSS) PER SHARE

We calculate basic earnings (loss) per share by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per share is calculated similarly but reflects the potential impact of outstanding stock options, stock warrants and other commitments to issue common stock, including shares issuable upon the conversion of convertible notes outstanding, except where the impact would be anti-dilutive.

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

	Three Months Ended October 31,					Six Months Ended October 31,
	2018		2017			2018		2017 (1)
Net earnings (loss)	$	30,151,246	$	(2,736,557	)	$	30,059,995	$	(3,377,383	)
Weighted average basic shares		67,146,971		58,212,889			66,854,138		48,324,000
Dilutive securities:
Convertible preferred stock		106,997,040		-			105,641,442		-
Convertible notes		210,959,331		-			112,199,041		-
Stock options and warrants		7,402,137		-			7,218,387		-
Weighted average diluted shares		392,505,479		58,212,889			291,913,008		48,324,000
Earnings (loss) per share:
Basic	$	0.45	$	(0.05	)	$	0.45	$	(0.07	)
Diluted	$	0.08	$	(0.05	)	$	0.10	$	(0.07	)

(1) Represents data for the period from May 5, 2017 (inception) to October 31, 2017.

The dilutive or potentially dilutive instruments outstanding as of October 31, 2018 and 2017, were as follows:

	As of October 31,
	2018		2017
Stock warrants		2,493,333		333,333
Convertible notes		240,356,018		243,284
Convertible Preferred Stock		107,814,540		17,754,540
Total potential incremental shares		350,663,891		18,331,157