Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2020
Loss per share total  
EARNINGS PER SHARE

NOTE 13 – EARNINGS PER SHARE

 

FASB ASC Topic 260, Earnings Per Share, requires a reconciliation of the numerator and denominator of the basic and diluted earnings (loss) per share (EPS) computations.

 

Basic earnings (loss) per share are computed by dividing net earnings available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed similar to basic earnings 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 shares had been issued and if the additional common shares were dilutive. In periods where losses are reported, the weighted-average number of common stock outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive.

 

Basic and diluted earnings (loss) per share are the same since the Company had net losses for all periods presented and including the additional potential common shares would have an anti-dilutive effect.

 

The following table sets forth the computation of basic and diluted net income per share:

 

   

For the Nine Months Ended

September 30,

    

For the Three Months Ended

September 30,

  
    2020     2019     2020     2019  
                         
Loss from continuing operations   $ (419,415 )   $ (439,747 )   $ (150,546 )   $ (138,575 )
Gain of disposal of discontinued operations     —       238,315       —       —  
Net income (loss) attributable to the common stockholders   $ (419,415 )   $ (201,432 )   $ (150,546 )   $ (138,575 )
                                 
Basic weighted average outstanding shares of common stock     614,040       541,816       638,789       541,816  
Dilutive effect of options and warrants     —       —       —       —  
Diluted weighted average common stock and common stock equivalents     614,040       541,816       638,789       541,816  
                                 
Loss per share:                                
Net loss per share total, basic and diluted   $ (0.68 )   $ (0.37 )   $ (0.24 )   $ (0.26 )

 

* Reflects the 150-for-1 reverse stock split that became effective on August 10, 2020. Refer to Note 3 – Summary of Significant Accounting Policies for further information.