Volcon ePowersports, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE

12 Months Ended

Dec. 31, 2022

NOTE 10 – LOSS PER COMMON SHARE

The basic net loss per common share is calculated by dividing the Company's net loss available to common stockholders 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 stockholders 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.

Schedule of earnings per share
	Year ended			Year ended
	December 31, 2022			December 31, 2021

Numerator:

Net loss	$	(34,235,405	)	$	(40,119,235	)

Denominator:

Denominator for basic and diluted net loss per common share - weighted average of common shares		23,686,752			4,567,235

Basic and diluted net loss per common share	$	(1.45	)	$	(8.78	)

Common shares consisting of shares potentially dilutive as of December 31, 2022 and 2021 are as follows:

Schedule of shares potentially dilutive
	2022		2021
Series A preferred stock (number of common shares convertible to)	$	–	$	2,978,588
Series B preferred stock (number of common shares convertible to)		–		2,764,587
Convertible Notes		12,077,295		–
Warrants		15,085,618		5,174,209
Stock options		3,288,830		1,964,045
Restricted stock units		75,000		350,000
Total	$	30,526,743	$	13,231,429