Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.1
Earnings Per Share
12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
11. EARNINGS PER SHARE

 

Basic net loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted net loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares. Potentially dilutive securities are excluded from the calculation when their effect would be antidilutive. For all years 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 years. Accordingly, basic shares equal diluted shares for all years presented.

 

Potentially dilutive securities were comprised of the following:

 

    December 31,
2018
    December 31,
2017
 
Warrants     3,279,500       3,605,728  
Convertible debt warrants     536,250       -  
Options     1,815,500       2,083,500  
Total     5,631,250       5,689,228  

 

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 years ended December 31, 2018 and 2017.

 

    December 31,
2018
    December 31,
2017
 
Net loss   $ (5,073,755 )   $ (2,542,582 )
Weighted average shares outstanding, basic     23,492,650       14,510,582  
Effect of dilutive common stock equivalents     -       -  
Adjusted weighted average shares outstanding, dilutive     23,492,650       23,492,650  
Basic loss per shares   $ (.22 )   $ (.18 )
Dilutive loss per share   $ (.22 )   $ (.18 )