Year Ended June 30,

2018

2017

2016

Net income (loss)

$

24,420,714

$

(13,331,533

)

$

(51,712,936

)

Denominator:

Weighted average common shares outstanding - Basic

198,101,060

184,087,719

156,553,534

Effect of dilutive shares:

Common stock equivalents arising from stock options,

warrants and conversion of preferred stock

6,752,604

-

Restriced stock units

2,153,894

-

Weighted average common shares outstanding - Diluted

207,007,558

184,087,719

156,553,534

Net income (loss) per common share:

Basic

$

0.12

$

(0.07

)

$

(0.33

)

Diluted

$

0.12

$

(0.07

)

$

(0.33

)