Innocap, Inc. Just Filed Its Quarterly Report: Earnings per Share  ...

Earnings
per Share



 



The
Company adopted ASC 260, Earnings per share, guidance from the inception. Earnings per share (“EPS”) is the amount
of earni ngs attributable to each share of common stock. For convenience, the term is used to refer to either earnings or loss per share.
Basic EPS is computed by dividing income available to common stockholders (the numerator) by the weighted-average number of common shares
outstanding, including warrants exercisable for less than a penny, (the denominator) during the period. Income available to common stockholders
shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not paid) and the dividends accumulated
for the period on cumulative preferred stock (whether or not earned) from income from continuing operations (if that amount appears in
the consolidated statements of operations) and also from net income. The computation of diluted EPS is similar to the computation of
basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding
if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common
shares issuable through contingent shares issuance arrangement, stock options or warrants.



 






 



The
following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable
to common stockholders per common share.



  







































































































   November 30, 2021   November 30, 2020 
   For the Three Months Ended 
   November 30, 2021   November 30, 2020 
Numerator:        
Net income attributable to common stockholders  $4,488,225    1,397,183 
Effect of dilutive securities:   391,035    175,356 
           
Diluted net income  $4,879,260   $1,572,539 
           
Denominator:          
Weighted average common shares outstanding – basic   1,764,049,961    1,393,560,488 
           
Dilutive securities (a):          
Series A Preferred   1,316,157,000    1,177,041,100 
Series B Preferred   5,499,034,800    5,499,034,800 
Convertible notes   2,320,223,646    1,236,932,052 
Warrants   -    - 
           
Weighted average common shares outstanding and assumed conversion – diluted   10,899,465,407    9,306,568,440 
           
Basic net income per common share  $0.00   $0.00 
           
Diluted net income per common share  $0.00   $0.00 
           
(a) - Anti-dilutive securities excluded:   -    - 


 







































































































   November 30, 2021   November 30, 2020 
   For the Six Months Ended 
   November 30, 2021   November 30, 2020 
Numerator:        
Net income attributable to common stockholders  $6,511,641    823,046 
Effect of dilutive securities:   776,515    175,356 
           
Diluted net income  $7,288,156   $998,402 
           
Denominator:          
Weighted average common shares outstanding – basic   

1,687,489,133


    1,308,705,539 
           
Dilutive securities (a):          
Series A Preferred   1,316,157,000    1,177,041,100 
Series B Preferred   5,499,034,800    5,499,034,800 
Convertible notes   2,320,223,646    1,236,932,052 
Warrants   -    - 
           
Weighted average common shares outstanding and assumed conversion – diluted   

10,822,904,579


    9,221,713,491 
           
Basic net income per common share  $0.00   $0.00 
           
Diluted net income per common share  $0.00   $0.00 
           
(a) - Anti-dilutive securities excluded:   -    - 


 








The above information was disclosed in a filing to the SEC. To see the filing, click here.

To receive a free e-mail notification whenever Innocap, Inc. makes a similar move, sign up!

Auto Refresh

Feedback