Note 3. Loss Per Share

Basic loss per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net loss attributable to common stockholders by the weighted-average shares outstanding during the period. Diluted loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.

Greystone's Series 2003 preferred stock, which is convertible into 3,333,333 shares of common stock, was not included in the computation of diluted loss per share for the six months and three months ended November 30, 2024 as the effect would have been antidilutive. As of May 31, 2025, all preferred stock had been retired and was therefore not included in the computation for the six months and three months ended November 30, 2025. Warrants exercisable into commons stock totaling $500,000 were also not included in the computation of diluted loss per share for the six months and three months ended November 30, 2025 and 2024, respectively, as the effect would have been antidilutive. 

The following tables set forth the computation of basic and diluted loss per share.

For the six months ended:

For the three months ended: