The computation of loss per share included in
the Condensed Consolidated Statements of Operations, represents the net profit (loss) per share that is reported per ASC 260, “Earnings
Per Share” for all periods presented.
Diluted earnings (loss) per share are computed
on the basis of the weighted average number of common shares (including common stock subject to redemption) plus dilutive potential common
shares outstanding for the reporting period. In periods where losses are reported, the weighted-average number of common stock outstanding
excludes common stock equivalents, because their inclusion would be anti-dilutive.
The following potentially dilutive securities
were excluded from the calculation of diluted net loss per share because the effects were anti-dilutive based on the application of the
treasury stock method and because the Company incurred net losses during the period:
| March 31, 2022 | December 31, 2021 | |||||||
| Series A convertible preferred stock | 500,000,000 | 500,000,000 | ||||||
| Series B convertible preferred stock | 5,000,000 | 5,000,000 | ||||||
| Series C convertible preferred stock | 10,000 | 10,000 | ||||||
| Total potentially dilutive shares | 505,010,000 | 505,010,000 | ||||||
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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