PER SHARE DATA

9 Months Ended

Sep. 30, 2020

NOTE 11 - PER SHARE DATA

The computation of basic earnings (loss) per share of common stock is based on the weighted average number of shares outstanding during the year. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year as well as the conversion of notes.

At September 30, 2020, the weighted average shares outstanding excluded options to purchase 60,576,568 shares of common stock of the Company, warrants to purchase 26,688,373 shares of common stock of the Company and 110,055,982 shares of common stock of the Company issuable upon the conversion of notes because their effect would be anti-dilutive.

There is a possible reset of the conversion price on the PIK Series A and 2023 convertible notes due to the

convertible note the Company entered on February 13, 2020.

At September 30, 2019, the weighted average shares outstanding excluded options to purchase 59,926,568 shares of common stock of the Company, warrants to purchase 26,688,373 shares of common stock of the Company and 98,958,681, shares of common stock of the Company issuable upon the conversion of notes because their effect would be anti-dilutive.