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 earnings 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.



 







































































































   February 28, 2022   February 28, 2021 
   For the Three Months Ended 
   February 28, 2022   February 28, 2021 
Numerator:          
Net (loss) income available to common stockholders  $(9,496,311)   1,264,998 
Effect of dilutive securities:   -    431,163 
           
Diluted net (loss) income  $(9,496,311)  $1,696,161 
           
Denominator:          
Weighted average common shares outstanding – basic   655,781,078    357,891,040 
           
Dilutive securities (a):          
Series A Preferred   -    1,177,041,100 
Series B Preferred   -    5,499,034,800 
Convertible notes   -    1,809,848,927 
Warrants   -    1,132,733,563 
Series C Preferred   -    - 
Series D Preferred   -    - 
           
Weighted average common shares outstanding and assumed conversion – diluted   655,781,078    9,976,549,430 
           
Basic net (loss) income per common share  $(0.01)  $0.00 
           
Diluted net (loss) income per common share  $(0.01)  $0.00 


 







































































































   February 28, 2022   February 28, 2021 
   For the Nine Months Ended 
   February 28, 2022   February 28, 2021 
Numerator:          
Net income available to common stockholders  $(2,984,670)   2,088,044 
Effect of dilutive securities:   -    606,519 
           
Diluted net income  $(2,984,670)  $2,694,963 
           
Denominator:          
Weighted average common shares outstanding – basic   582,680,746    230,663,175 
           
Dilutive securities (a):          
Series A Preferred   -    1,177,041,100 
Series B Preferred   -    5,499,034,800 
Convertible notes        1,809,848,927 
Warrants        1,132,733,563 
Series C Preferred   -    - 
Series D Preferred   -    - 
           
Weighted average common shares outstanding and assumed conversion – diluted   582,680,746    9,849,321,565 
           
Basic net income per common share  $(0.01)  $0.01 
           
Diluted net income per common share  $(0.01)  $0.00 


 






 



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

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