Note 20 Earnings Per Share
The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per-share computations for each of the past two fiscal years:
|For the year ended February 29, 2016:|
|Basic earnings (losses)||$||(8,412,127||)||6,766,701||$||(1 .24)|
|Effect of dilutive securities||||5,637,538|||
|For the year ended February 28, 2015:|
|Interest expense from convertible debt||574,046||324,731,862|||
|Effect of dilutive securities||||345,267,241|||
Basic earnings per share are computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted loss per common share is not presented because it is anti-dilutive.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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