Innocap, Inc. Just Filed Its Quarterly Report: Earnings per Share  ...

Earnings
per Share



 



The
Company adopted ASC 260, Earnings per share, guidance from the inception. Earnings per share (“EPS”) is the amount
of earnings attributable to each share of common stock. For conve nience, the term is used to refer to either earnings or loss per share.
Basic EPS is computed by dividing income available to common stockholders (the numerator) by the weighted-average number of common shares
outstanding, including warrants exercisable for less than a penny, (the denominator) during the period. Income available to common stockholders
shall be computed by deducting both the dividends declared in the period on preferred stock (whether or not paid) and the dividends accumulated
for the period on cumulative preferred stock (whether or not earned) from income from continuing operations (if that amount appears in
the consolidated statements of operations) and also from net income. The computation of diluted EPS is similar to the computation of
basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding
if the dilutive potential common shares had been issued during the period to reflect the potential dilution that could occur from common
shares issuable through contingent shares issuance arrangement, stock options or warrants.



 



The
following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable
to common stockholders per common share.



 






































































  

For the Three


Months Ended
August 31, 2021

 
Numerator:     
Net income  $2,023,416
Effect of dilutive securities   385,480 
      
Diluted net income  $2,408,896 
      
Denominator:     
Weighted average common shares outstanding – basic   1,611,146,398 
      
Dilutive securities (a):     
Series A Preferred   1,316,157,000 
Series B Preferred   5,373,342,576 
Convertible notes   1,806,230,539 
      
Weighted average common shares outstanding and assumed conversion – diluted   10,106,876,513 
      
Basic net income per common share  $0.00 
      
Diluted net income per common share  $0.00 
      
(a) - Anti-dilutive securities excluded:   - 


 



The
Company did not have anti-dilutive securities for the three months ended August 31, 2020.





The above information was disclosed in a filing to the SEC. To see the filing, click here.

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