| Computations of Basic and Diluted Earnings Per Share |
The following table sets forth the computations
of basic and diluted earnings (loss) per share for the periods indicated:
| |
|
Fiscal Year Ended April 30, |
|
| |
|
2020 |
|
|
2019 |
|
| Net earnings |
|
$ |
2,788,605 |
|
|
$ |
21,423,337 |
|
| After-tax interest expense adjustment |
|
|
37,414 |
|
|
|
279,950 |
|
| Net earnings, if-converted basis |
|
$ |
2,826,019 |
|
|
$ |
21,703,287 |
|
| Weighted average basic shares |
|
|
131,472,281 |
|
|
|
80,487,890 |
|
| Dilutive securities: |
|
|
|
|
|
|
|
|
| Convertible preferred stock |
|
|
46,125,389 |
|
|
|
90,914,381 |
|
| Convertible notes |
|
|
39,993,730 |
|
|
|
63,195,608 |
|
| Stock options and warrants |
|
|
22,232,572 |
|
|
|
5,212,360 |
|
| Weighted average diluted shares |
|
|
239,823,972 |
|
|
|
239,810,239 |
|
| Earnings per share: |
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.02 |
|
|
$ |
0.27 |
|
| Diluted |
|
$ |
0.01 |
|
|
$ |
0.09 |
|
|