NET INCOME (LOSS) PER SHARE OF COMMON STOCK

6 Months Ended

Jun. 30, 2022

NET INCOME (LOSS) PER SHARE OF COMMON STOCK

Net Income (loss) Per Share Of Common Stock

NOTE 9. NET INCOME (LOSS) PER SHARE OF COMMON STOCK

The Company follows ASC 260-10, which requires presentation of basic and diluted Earnings per Share (“EPS”) on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying consolidated financial statements, basic net income (loss) per share of common stock is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding during the year. Basic net income (loss) per common share is based upon the weighted average number of common shares outstanding during the period. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period.

Convertible debt that is convertible into 8,780,883,321 and 370,602,246 shares of the Company’s common stock are not included in the computation, along with 249,999,900 and 249,999,900 of the Company’s preferred stock after conversion, as of June 30, 2022 and 2021, respectively. As of June 30, 2022, there are 687,760 shares of series C preferred stock issued and outstanding that are convertible into 6,877,600,000 shares of common stock. Additionally, there are 16,666,667 and 16,666,667 warrants that are exercisable into shares of stock as of June 30, 2022 and 2021, respectively.

The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share computations for the three and six - month periods ended June 30, 2022 and 2021:

	Six-month period ended June 30,						Three-month period ended June 30,
	2022			2021			2022			2021
Loss from continuing operations	$	(1,279,297	)	$	(7,346,362	)	$	(627,908	)	$	(1,051,317	)
Consolidated net loss	$	(1,279,297	)		(7,346,362	)	$	(627,908	)	$	(1,051,317	)
Weighted average shares used for diluted earnings per share		15,589,961,838			4,850,306,210			14,834,207,405			5,604,768,785
Incremental Diluted Shares	-		*	-		*	-		*	-		*
Weighted Average shares used for diluted earnings per share		15,589,961,938			4,850,306,210			14,834,207,405			5,604,768,785
Net income (loss) per share:
Basic and Diluted:    continuing operations	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Basic and Diluted: discontinued operations	$	-		$	-		$	-		$	-
Total Basic and Diluted loss per share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

* The shares associated with convertible debt, preferred stock, stock options and stock warrants are not included because the inclusion would be anti-dilutive (i.e., reduce the net loss per common share).