XML 33 R12.htm IDEA: XBRL DOCUMENT

6. Earnings Per Share

9 Months Ended

Sep. 30, 2019

6. EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted net loss per share of common stock for the three and nine months ended September 30, 2019 and 2018:

	For the Three Months Ended September 30,
	2019			2018
Net loss	$	(349,316	)	$	(243,457	)

Weighted average share outstanding basic		42,775,966			40,633,327

Basic and diluted loss per share	$	(0.01	)	$	(0.01	)

	For the Nine Months Ended September 30,
	2019			2018
Net loss	$	(1,676,357	)	$	(933,121	)

Weighted average share outstanding basic		42,005,826			40,591,019

Basic and diluted loss per share	$	(0.04	)	$	(0.02	)

Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company’s potentially dilutive securities which include stock options, convertible debt, convertible preferred stock and common stock warrants have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company’s net loss position.

The following outstanding common stock equivalents have been excluded from diluted net loss per common share for the three and nine months ended September 30, 2019 and 2018 because their inclusion would be anti-dilutive:

	September 30, 2019		September 30, 2018
Warrants to purchase common stock		1,315,032		384,615
Potentially issuable shares related to convertible notes payable		4,337,525		2,500,000
Total anti-dilutive common stock equivalents		5,652,557		384,615