| EARNINGS PER SHARE |
NOTE
10 – 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 stockholders 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.
The
following potentially dilutive securities were excluded from the calculation of diluted net loss per share because the effects were anti-dilutive
based on the application of the treasury stock method and because the Company incurred net losses during the period:
SCHEDULE
OF ANTI DILUTIVE SECURITIES
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| |
|
For
the Nine Months Ended September 30, |
|
|
For
the Three Months Ended September 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| Convertible
notes payable |
|
|
9,386,463 |
|
|
|
5,532,796 |
|
|
|
9,386,463 |
|
|
|
5,532,796 |
|
| Warrants
to purchase shares of common stock |
|
|
11,841,160 |
|
|
|
7,222,558 |
|
|
|
11,841,160 |
|
|
|
7,222,558 |
|
| Total
potentially dilutive shares |
|
|
21,227,623 |
|
|
|
12,755,354 |
|
|
|
21,227,623 |
|
|
|
12,755,354 |
|
The
following table sets forth the computation of basic and diluted net income per share:
SCHEDULE OF COMPUTATION OF BASIC AND DILUTED NET INCOME PER SHARE
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| |
|
Nine
Months Ended September 30, |
|
|
Three
Months Ended September 30, |
|
| |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
loss attributable to the common stockholders |
|
$ |
(2,070,880 |
) |
|
$ |
(1,777,447 |
) |
|
$ |
(726,509 |
) |
|
$ |
(665,904 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic weighted average
outstanding shares of common stock |
|
|
37,295,803 |
|
|
|
36,138,191 |
|
|
|
37,295,803 |
|
|
|
36,721,651 |
|
| Dilutive
effect of options and warrants |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Diluted
weighted average common stock and common stock equivalents |
|
|
37,295,803 |
|
|
|
36,138,191 |
|
|
|
37,295,803 |
|
|
|
36,721,651 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
and diluted |
|
$ |
(0.06 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.02 |
) |
|