The
Company computes basic and diluted income per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification.
Basic income per share is computed by dividing net income available to commo
n shareholders, by the weighted average number of shares
of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted income per share
is computed by dividing net income available to common shareholders by the diluted weighted average number of shares of common stock
during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted as
of the first day of the year for any potentially diluted debt or equity.
The
dilutive effect of outstanding convertible securities and preferred stock is reflected in diluted earnings per share by application of
the if-converted method.
| For the Nine Months Ended | ||||||||
| September 30, | ||||||||
| 2021 | 2020 | |||||||
| Basic earnings per common share | ||||||||
| Numerator: | ||||||||
| Net earnings available to common shareholders | $ | 583,290 | $ | 14,065 | ||||
| Denominator: | ||||||||
| Weighted average common shares outstanding | 163,652,143 | 144,553,603 | ||||||
| Basic earnings per common share | $ | 0.00 | $ | 0.00 | ||||
| Diluted earnings per common share | ||||||||
| Numerator: | ||||||||
| Net income available to common shareholders | $ | 583,290 | $ | 14,065 | ||||
| Add convertible debt interest | ||||||||
| Net income available to common shareholders | $ | 583,290 | $ | 14,065 | ||||
| Denominator: | ||||||||
| Weighted average common shares outstanding | 163,652,143 | 144,553,603 | ||||||
| Preferred shares | 20,000,000 | 20,000,000 | ||||||
| Convertible debt | 4,433,740 | 5,511,273 | ||||||
| Adjusted weighted average common shares outstanding | 188,085,883 | 170,064,876 | ||||||
| Diluted earnings per common share | $ | 0.00 | $ | 0.00 | ||||
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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