Net loss per share
The Company calculates net income/(loss) per share in accordance with ASC Topic 260, “Earnings per Share.” Basic income/(loss) per share is computed by dividing the net income/(loss) by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed similar to basic income/(loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common stock equivalents had been issued and if the additional common shares were dilutive. The following table presents a reconciliation of basic and diluted net loss per share:
|Year ended August 31,|
|Weighted average number of common shares outstanding - Basic and diluted (Note)||115,207,489||104,850,604|
|Net loss per share - Basic and diluted||$||(0.09||)||$||(0.01||)|
Note: Including 5,500,000 shares to be canceled, 593,750 shares as stock compensation and 375,000 shares to be issued to investors (note 14).
As of August 31, 2020, the Company’s convertible notes payable were excluded from the diluted loss per share calculation as they were anti-dilutive.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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