Per share data
ASC Topic 260, Earnings per Share, requires
presentation of both basic and diluted earnings per share (“EPS”) with a reconciliation of the numerator and denominator of
the basic EPS computation to the numerator and denominator of the diluted EPS computation. Basic EPS excludes dilution. Diluted EPS reflects
the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted i
nto common
stock or resulted in the issuance of common stock that then shared in the earnings of the entity.
Basic net earnings per share are computed
by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during
the period. Diluted net earnings per share is computed by dividing net earnings applicable to common stockholders by the weighted average
number of shares of common stock, common stock equivalents and potentially dilutive securities outstanding during each period. Diluted
earnings per share reflects the potential dilution that could occur if securities were exercised or converted into common stock or other
contracts to issue common stock resulting in the issuance of common stock that would then share in the Company’s earnings subject
to anti-dilution limitations. In a period in which the Company has a net loss, all potentially dilutive securities are excluded from the
computation of diluted shares outstanding as they would have an anti-dilutive impact. For the three
and nine months ended June 30, 2021 and 2021, potentially dilutive common shares consist of common stock issuable upon the conversion
of Series A preferred stock (using the if-converted method).
The following is a reconciliation of the basic
and diluted net (loss) income per share computations for the three and nine months ended June 30, 2021 and 2020:
Basic net (loss) income
per share
| Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Nine Months Ended June 30, 2021 | Nine Months Ended June 30, 2020 | |||||||||||||
| Net (loss) income available to Nukkleus Inc. for basic net (loss) income per share of common stock | $ | (103,804 | ) | $ | 11,492 | $ | (157,350 | ) | $ | (97,659 | ) | |||||
| Weighted average common stock outstanding - basic | 257,055,897 | 230,485,100 | 239,342,032 | 230,485,100 | ||||||||||||
| Net (loss) income per common share attributable to Nukkleus Inc.: | ||||||||||||||||
| Basic | $ | (0.00 | ) | $ | 0.00 | $ | (0.00 | ) | $ | (0.00 | ) | |||||
Diluted net (loss)
income per share
| Three Months Ended June 30, 2021 | Three Months Ended June 30, 2020 | Nine Months Ended June 30, 2021 | Nine Months Ended June 30, 2020 | |||||||||||||
| Net (loss) income available to Nukkleus Inc. for basic net (loss) income per share of common stock | $ | (103,804 | ) | $ | 11,492 | $ | (157,350 | ) | $ | (97,659 | ) | |||||
| Add: interest expense for redeemable preferred stock | - | 938 | - | - | ||||||||||||
| Subtract: unamortized debt discount for redeemable preferred stock | - | (2,118 | ) | - | - | |||||||||||
| Net (loss) income available to Nukkleus Inc. for diluted net (loss) income per share of common stock | $ | (103,804 | ) | $ | 10,312 | $ | (157,350 | ) | $ | (97,659 | ) | |||||
| Weighted average common stock outstanding - basic | 257,055,897 | 230,485,100 | 239,342,032 | 230,485,100 | ||||||||||||
| Effect of dilutive securities: | ||||||||||||||||
| Series A preferred stock | - | 1,250,000 | - | - | ||||||||||||
| Weighted average common stock outstanding - diluted | 257,055,897 | 231,735,100 | 239,342,032 | 230,485,100 | ||||||||||||
| Net (loss) income per common share attributable to Nukkleus Inc.: | ||||||||||||||||
| Diluted | $ | (0.00 | ) | $ | 0.00 | $ | (0.00 | ) | $ | (0.00 | ) | |||||
For the three and nine months ended June 30, 2021
and for the nine months ended June 30, 2020, a total of 1,250,000 shares of common stock from the assumed redemption of the Series A convertible
redeemable preferred stock at the contractual floor of $0.20 per share have been excluded from the computation of diluted weighted average
number of shares of common stock outstanding as they would have had an anti-dilutive impact.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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