ADM Enterprises, Inc. Just Filed Its Quarterly Report: Net Income per Share...

Net
Income per Share



 



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.



 



The
following is a reconciliation of basic and diluted earnings per common share for the nine months ended September 30, 2021 and 2020:



 


































































































         
   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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