NOTE 17 - BASIC AND FULLY DILUTED LOSS PER SHARE

9 Months Ended

Sep. 30, 2016

NOTE 17 – BASIC AND FULLY DILUTED LOSS PER SHARE

The computations of basic loss per share of common stock are based upon the weighted average number of shares of common stock outstanding during the period covered by the financial statements. Common stock equivalents that would arise from issuance of shares of common stock to be issued under subscriptions and other obligations of the Company, the exercise of stock options and warrants, conversion of convertible preferred stock and dividends on those shares of preferred stock or the conversion of convertible promissory notes were excluded from the loss per share attributable to common stockholders as their value is anti-dilutive.

The Company’s common stock equivalents, at September 30, 2016 and December 31, 2015, respectively, which are not included in the calculation of fully diluted loss per share because they are anti-dilutive, consisted of the following:

	September 30, 2016 (Unaudited)		December 31, 2015
Convertible promissory notes outstanding		568,623		2,728
Warrants outstanding		4,542,126		4,575,098
Stock options outstanding		270,833		242,100
Preferred stock outstanding		2,000		2,000
Common stock to be issued		284,170		260,206
Total Common Stock Equivalents		5,667,752		5,082,132