Company adopted ASC 260, Earnings per share, guidance from the inception. Earnings per share (“EPS”) is the amount
of earnings at tributable 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.
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.
SCHEDULE OF EARNING PER SHARE
|For the Year Ended|
|May 31, 2022||May 31, 2021|
|Net income (loss) available for common shareholders||$||(1,031,171||)||1,725,497|
|Effect of dilutive securities:||1,350,389|
|Diluted net (loss) income available for common shareholders||$||(1,031,171||)||$||3,075,886|
|Weighted average common shares outstanding – basic||605,817,180||1,408,941,722|
|Series A Preferred||1,316,157,000|
|Series B Preferred||5,499,034,800|
|Series C Preferred|
|Series D Preferred|
|Weighted average common shares outstanding and assumed conversion – diluted||605,817,180||10,030,364,061|
|Basic net (loss) income available for common shareholders per common share||$||(0.00||)||$||0.00|
|Diluted net (loss)income available for common shareholders per common share||$||(0.00||)||$||0.00|
SCHEDULE OF ANTI-DILUTIVE SHARES
|May 31, 2022|
|Weighted average common shares outstanding – basic||605,817,180|
|Series A Preferred||1,233,209,295|
|Series B Preferred||5,373,342,576|
|Series C Preferred||1,206,351,359|
|Series D Preferred||1,174,935,959|
|Weighted average common shares outstanding and assumed conversion – diluted||9,593,656,369|
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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