Duke Mountain Resources, Inc Just Filed Its Annual Report: Earnings (Loss) per ...

Earnings (Loss) per Common Share



 



Net income (loss) per common share
is calculated in accordance with ASC Topic 260: Earnings per Share (“ASC 260”). Basic income (loss) per share is computed
by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. In periods where
the Company has a net loss, the computation of diluted net loss per share does not includ e dilutive common stock equivalents in the weighted
average shares outstanding as their effect would be anti-dilutive.










 





 



The following are dilutive common stock equivalents
during the years ended:



 


























   December 31, 2021  December 31, 2020
Convertible preferred stock   79,852,572   (1)   79,852,572    (1)
Convertible notes payable   500,000   (2)   700,000    (2)
Total   80,352,572        80,582,572     




 



 
















  (1)

As of December 31, 2021, 39,926,286 shares of our
common stock are issuable upon conversion of each share of Convertible Preferred Series AA stock. Each share is convertible into 40% of
the then outstanding common stock. As there were 2 shares of Convertible Preferred Series AA stock issued and outstanding, the shares
would be convertible into 79,852,572 shares of common stock.


 

  (2)

700,000 shares of our common stock are issuable upon
conversion of $210,000 of Convertible Notes Payable at a conversion rate of $0.30 per share, as of December 31, 2021.


 


An additional 2,750,000 shares of our common stock
will be issuable upon conversion of $550,000 of Convertible Notes Payable at a conversion rate of $0.20 per share after 180 days from
issue date.

     

 



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

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