Three Months Ended

Nine Months Ended

June 30,

June 30,

2021

2020

2021

2020

Net (loss) income

$

(2,692,866)

$

(3,025,380)

$

11,688,854

$

(7,140,990)

Basic weighted average common shares outstanding

79,729,370

66,728,782

75,054,871

65,709,139

Net effect of dilutive instruments:

Stock options

—

—

7,208,123

—

Stock appreciation rights

—

—

44,379

—

Common stock purchase warrants

—

—

499,783

—

Total net effect of dilutive instruments

—

—

7,752,285

—

Diluted weighted average common shares outstanding

79,729,370

66,728,782

82,807,156

65,709,139

Net (loss) income per basic common share outstanding

$

(0.03)

$

(0.05)

$

0.16

$

(0.11)

Net (loss) income per diluted common share outstanding

$

(0.03)

$

(0.05)

$

0.14

$

(0.11)