Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Income (Loss) Per Common Share

Basic income (loss) per share is computed by dividing the net income or loss attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period. Fully diluted income (loss) per share is computed similar to basic income (loss) per share except that the denominator for fully diluted income per share is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued in order to present their dilutive effect unless the effect of such potential shares would be antidilutive. Potential common shares consist of incremental common shares issuable upon the exercise of warrants, convertible preferred shares and convertible notes payable. In addition, in computing net income (loss) per share on a fully diluted basis, the Company adjusts for the interest expense on convertible debt as if the debt had been converted for all periods presented.

As at December 31, 2015, the number of potential dilutive common shares is comprised of the following:

	2015		2014
Common share equivalents of Series A Convertible Preferred Stock		11,664		11,664
Common share equivalents of Series B Convertible Preferred Stock		-		216,670
Common share equivalents of Series C Convertible Preferred Stock		2,000,000		20,000
Common share equivalents of Series D Convertible Preferred Stock		3,000		-
Convertible Promissory Notes Payable		4,233,333		74,167
Due Diligence Payable		-		64,000
Warrants		7,900		17,084
Total		6,255,897		403,585