Volcon ePowersports, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2022

NOTE 9 – LOSS PER COMMON SHARE

The basic net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the weighted average number of common shares during the year. The diluted net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the diluted weighted average number of common shares outstanding during the year. The diluted weighted average number of common shares outstanding is the basic weighted number of common shares adjusted for any potentially dilutive debt or equity. Common shares consisting of common stock warrants, stock options and restricted stock units totaling 8,206,032 and 12,151,590 shares as of March 31, 2022 and 2021, respectively, were excluded from the calculation of diluted net loss per share due to their antidilutive effect. There were no dilutive instruments outstanding as of March 31, 2022 or 2021.

Schedule of earnings per share
	Three months ended			Three months ended
	March 31, 2022			March 31, 2021

Numerator:

Net loss	$	8,612,344		$	15,319,687

Denominator:

Denominator for basic and diluted net loss per common share - weighted average of common shares		21,745,089			1,992,160

Basic and diluted net loss per common share	$	(0.40	)	$	(7.69	)