Quarterly report pursuant to Section 13 or 15(d)

INCOME (LOSS) PER COMMON SHARE (Tables)

v3.20.2
INCOME (LOSS) PER COMMON SHARE (Tables)
3 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Schedule of earnings (loss) per share

The calculation of earnings (loss) per share for the three months ended June 30, 2020 and 2019 was as follows:

 

    Three Months Ended  
    June 30,  
    2020     2019  
Numerator:            
Net loss   $ (1,594,632 )   $ (1,287,598 )
Less preferred dividends     (1,680,756 )     (1,878,055 )
Net loss attributable to common stockholders   $ (3,275,388 )   $ (3,165,653 )
                 
Denominator                
     Weighted average share – basic     7,527,903       15,348  
                 
Dilutive effect of common stock equivalents                
Options/warrants            
Preferred C shares            
                 
Denominator                
     Total Weighted average shares – diluted     7,527,903       15,348  
Income (loss) per share – basic                
Continuing operations   $ (0.44 )   $ (206.26 )
Income (loss) per share – diluted                
Continuing Operations   $ (0.44 )   $ (206.26 )
Schedule of anti-dilutive shares

For the three months ended June 30, 2020 and 2019, the following share equivalents related to convertible debt and warrants to purchase shares of common stock were excluded from the computation of diluted net income (loss) per share as the inclusion of such shares would be anti-dilutive.

 

    2020     2019  
Common Shares Issuable for:                
Convertible Debt     276       276  
Options and Warrants     38       38  
Series C Preferred Shares(1)     51,544,370,792       40,256,966,846  
Total     51,544,371,106       40,256,967,160  

 

(1)

Based on the lowest possible conversion rate of the Series C Preferred Stock ($0.001 per share, the par value of the common stock).