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

9 Months Ended

Sep. 30, 2023

NOTE 11 – 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. Diluted net loss per common share is equal to basic net loss per share due to the Company’s net loss and any potentially issuable shares are anti-dilutive.

Schedule of earnings per share
	Three months Ended			Three months Ended			Nine months Ended			Nine months Ended
	September 30, 2023			September 30, 2022			September 30, 2023			September 30, 2022

Numerator:

Net loss	$	(11,327,896	)	$	(7,899,184	)	$	(41,655,559	)	$	(26,437,991	)

Denominator:

Denominator for basic and diluted net loss per common share - weighted average of common shares		6,162,589			4,869,044			5,502,512			4,690,805

Basic and diluted net loss per common share	$	(1.84	)	$	(1.62	)	$	(7.57	)	$	(5.64	)

Common shares consisting of shares potentially dilutive as of September 30, 2023 and 2022 are as follows:

Schedule of anti-dilutive shares
	September 30, 2023		September 30, 2022
Convertible Notes		11,675,892		2,415,459
Warrants		5,760,085		3,017,124
Stock options		1,000,016		681,567
Restricted stock units		5,000		30,000
Total		18,440,993		6,144,150