Basic earnings (losses) per share is computed by dividing net
income (loss) by the weighted-average number of common shares outstanding during the period. Diluted earnings (losses) per share is computed
giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist
of incremental shares issuable upon e
xercise of stock options and warrants and conversion of convertible debt. Such potentially dilutive
shares are excluded when the effect would be to reduce a net loss per share or increase a net income per share.
| For the Years Ended June 30 | ||||||||
| 2021 | 2020 | |||||||
| Basic weighted average common shares | 138,654,876 | 114,077,157 | ||||||
| Effect of potentially dilutive securities | ||||||||
| - Warrants | (318,185 | ) | (148,680 | ) | ||||
| - Convertible notes | 0 | 0 | ||||||
| Diluted weighted average common shares | 138,336,691 | 113,928,477 | ||||||
During the year ended June 30, 2021,the Company had outstanding convertible
notes and warrants which represent 1,096,705 shares of commons stock respectively. These shares of common stock were excluded from the
computation of diluted earnings per share since their effect would have been antidilutive.
During the year ended June 30, 2020, the Company had outstanding convertible notes
and warrants which represent 899,753 shares of commons stock, among which 670,587 shares of common stock for convertible notes were excluded
from the computation of diluted earnings per share since their effect would have been antidilutive.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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