Quarterly report pursuant to Section 13 or 15(d)

7. Loss per Common Share

v3.20.2
7. Loss per Common Share
6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Loss per Common Share

NOTE 7 – LOSS PER COMMON SHARE

 

The basic net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the weighted average number of common shares during the year. The diluted net loss per common share is calculated by dividing the Company's net loss available to common shareholders by the diluted weighted average number of common shares outstanding during the year. The diluted weighted average number of common shares outstanding is the basic weighted number of common shares adjusted for any potentially dilutive debt or equity. As of June 30, 2020, diluted net earnings (loss) per common share excludes any impact from the 4,400,000 warrants outstanding (including 1,334,000 that are exercisable as of June 30, 2020), and 989,360,489 shares of common stock issuable under notes payable that are convertible as of June 30, 2020 as their impact would be antidilutive. As of June 30, 2020, diluted net earnings (loss) per common share excludes any impact from the 3,950,000 warrants outstanding (including 834,000 that are exercisable as of June 30, 2019) as their impact would be antidilutive.

 

    Three Months Ended     Six Months Ended  
    June 30, 2020     June 30, 2019     June 30, 2020     June 30, 2019  
                         
Numerator                                
Net loss   $ (873,271 )   $ (1,052,191 )   $ (1,798,799 )   $ (3,500,690 )
Denominator                                
Basic and Diluted weighted average common shares     70,016,548       30,889,916       51,468,125       30,541,704  
Basic and diluted net loss per common share   $ (0.01 )   $ (0.03 )   $ (0.03 )   $ (0.11 )