NET INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2021

NET INCOME PER COMMON SHARE

NOTE 12 - NET INCOME PER COMMON SHARE

NOTE 12: NET INCOME (LOSS) PER COMMON SHARE

Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the periods. Diluted net income per common share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the periods. Common equivalent shares consist of convertible preferred stock and convertible notes that are computed using the if-converted method, and outstanding warrants that are computed using the treasury stock method. Antidilutive stock awards consist of stock options that would have been antidilutive in the application of the treasury stock method.

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2021			2020			2021			2020
Numerator:
Net income (loss)	$	7,431,079		$	(738,439	)	$	90,426,134		$	(845,808	)
(Gain) loss on change in fair value of derivatives		(7,917,287	)		-			(91,348,122	)		-
Interest on convertible debt		12,906			-			33,789			-
Net income (loss) - diluted	$	(473,302	)	$	(738,439	)	$	(888,199	)	$	(845,808	)
Denominator:
Weighted average common shares outstanding		81,674,114			906,032			60,784,647			906,032
Effect of dilutive shares		586,374,953			-			574,129,649			-
Diluted		668,049,067			906,032			634,914,296			906,032
Net income (loss) per common share:
Basic	$	0.09		$	(0.82	)	$	1.49		$	(0.93	)
Diluted	$	(0.00	)	$	(0.82	)	$	0.00	)	$	(0.93	)

For the three and six months ended June 30, 2020, the convertible instruments are anti-dilutive and therefore, have been excluded from earnings (loss) per share.