Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 44

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
32,210, respectively (February 29, 2024 - $24,160 and $45,982, respectively) in salaries and wages on the condensed consolidated statement of comprehensive income (loss) in respect of the ESPP, representing the Company's employee matching of cash contributions to the ESPP. The shares were purchased on the open market at an average price of $0.73 over a six-month period (February 29, 2024 - $1.01). The shares are held in trust by the Company for a period of one year from the date of purchase. As of February 28, 2025, 654,975 shares were held in trust by the Company.
      [d] Earnings Per Share
      Net income (loss) per common share (basic) is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Net income (loss) per common share (diluted) is calculated by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding common share equivalents. This method requires that the dilutive effect of outstanding options and warrants issued be calculated using the treasury stock method. Under the treasury stock method, all common share equivalents have been exercised at the beginning of the period (or at the time of issuance, if later), and that the funds obtained thereby were used to purchase common shares of the Company at the average trading price of common shares during the period, but only if dilutive. The following table shows the computation of basic and diluted earnings per share for the three and six months ended February 28, 2025 and February 29, 2024:

              Three Months Ended

              Six Months Ended

                February 28,
                2025

                February 29,
                2024

                February 28,
                2025

                February 29,
                2024

              Net income (loss)
              $
              (302,094
              )
              $
              (130,012
              )
              $
              (183,954
              )
              $
              119,504

              Weighted-average basic shares outstanding
               
              9,637,410

              9,842,720

              9,637,410

              9,926,627

              Effect of dilutive stock-based awards
               
              -

              264,834

              -