Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
10. EARNINGS PER SHARE

 

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding plus the number of shares of common stock that would be issued assuming exercise or conversion of all potentially dilutive shares of common stock. Potentially dilutive securities are excluded from the calculation when their effect would be anti-dilutive. For all periods presented in the consolidated financial statements, all potentially dilutive securities have been excluded from the diluted share calculations as they were anti-dilutive as a result of the net losses incurred for the respective periods. Accordingly, basic shares equal diluted shares for all periods presented.

 

The following table sets forth the composition of the weighted average shares (denominator) used in the basic and dilutive earnings per share computation for the three months ended March 31, 2017 and 2016:

 

      Three Months Ended
March 31,
 
      2016     2015  
  Net Loss   $ (283,309 )   $ (78,844 )
  Weighted average shares outstanding     12,115,322       8,972,889  
  Effect of dilutive common stock equivalents     -       -  
  Adjusted weighted average shares outstanding     12,115,322       8,972,889  
  Basic and dilutive loss per share   $ (.02 )   $ (.01 )

 

Potentially dilutive securities were comprised of the following:

 

      Three Months Ended
March 31,
 
      2017     2016  
  Warrants     3,992,157       3,067,801  
  Options     1,872,000       1,885,000  
        5,864,157       4,952,801