General form of registration statement for all companies including face-amount certificate companies

EARNINGS PER SHARE

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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]    
EARNINGS PER SHARE

NOTE 12 – 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:

 

 

    2023     2022  
    Years Ended December 31,  
    2023     2022  
Convertible notes payable     365,274       293,174  
Restricted stock units     17,178       -  
Warrants to purchase shares of common stock     78,000       379,812  
Total potentially dilutive shares     460,452       672,986  

 

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

 

 

    2023     2022  
    Years Ended December 31,  
    2023     2022  
             
Net loss attributable to the common stockholders   $ (4,145,936 )   $ (2,929,817 )
                 
Basic weighted average outstanding shares of common stock     1,100,372       934,915  
Dilutive effect of options and warrants     -       -  
Diluted weighted average common stock and common stock equivalents     1,100,372       934,915  
                 
Loss per share:                
Basic and diluted   $ (3.77 )   $ (3.13 )

 

 

NOTE 11 – 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:

    2022     2021  
    For the Years Ended December 31,  
    2022     2021  
Convertible notes payable     293,174       137,249  
Warrants to purchase shares of common stock     379,812       199,814  
Total potentially dilutive shares     672,986       337,063  

 

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

    2022     2021  
    Years Ended December 31,  
    2022     2021  
             
Net loss attributable to the common stockholders   $ (2,929,817 )   $ (3,004,619 )
                 
Basic weighted average outstanding shares of common stock     934,915       909,915  
Dilutive effect of options and warrants     -       -  
Diluted weighted average common stock and common stock equivalents     934,915       909,915  
                 
Loss per share:                
Basic and diluted   $ (3.13 )   $ (3.30 )