EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 13 – EARNINGS PER SHARE

FASB ASC Topic 260, Earnings Per Share, requires a reconciliation of the numerator and denominator of the basic and diluted earnings (loss) per share (“EPS”) computations.

Basic earnings (loss) per share are computed by dividing net earnings available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed similar to basic earnings per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. In periods where losses are reported, the weighted-average number of common stock outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive.

Basic and diluted earnings (loss) per share are the same since net losses for all periods presented and including the additional potential common shares would have an anti-dilutive effect.

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share because the effects were anti-dilutive based on the application of the treasury stock method and because the Company incurred net losses during the period: 

	March 31, 2022		December 31, 2021
Options to purchase shares of common stock		–		–
Series A convertible preferred stock		500,000,000		500,000,000
Series B convertible preferred stock		5,000,000		5,000,000
Series C convertible preferred stock		10,000		10,000
Total potentially dilutive shares		505,010,000		505,010,000

The following table sets forth the computation of basic and diluted net income per share: 

	Three Months Ended March 31,
	2022			2021
Loss from continuing operations	$	(447,774	)	$	(286,114	)
Discontinued operations		–			71,583
Net loss	$	(447,774	)	$	(214,531	)
Basic weighted average outstanding shares of common stock		69,529,624			76,340,735
Dilutive effect of options and warrants		–			–
Diluted weighted average common stock and common stock equivalents		69,529,624			76,340,735
Loss per share:
Net loss per share from continuing operations, basic and diluted	$	(0.01	)	$	(0.01	)
Net loss per share from discontinued operations, basic and diluted		–			0.00
Net loss per share, basic and diluted	$	(0.01	)	$	(0.01	)