Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.10.0.1
Earnings Per Share
9 Months Ended
Sep. 30, 2018
Notes  
Earnings Per Share

Note 25 – Earnings Per Share

 

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive.

 

The following table sets forth the reconciliation of basic and diluted net income per share for the three and nine months ended September 30, 2018 and 2017:

 

 

 

Three Months Ended

 

Three Months Ended

 

 

September 30,

 

September 30,

 

 

2018

 

2017

 

2018

 

2017

Numerator

 

 

 

 

 

 

 

 

Net income attributable to Mentor common stockholders

$

77,224

$

(285,796)

$

(149,087)

$

(922,653)

Denominator

 

 

 

 

 

 

 

 

Weighted-average shares used in per share computation -

 

 

 

 

 

 

 

 

Basic

 

23,092,466

 

22,694,283

 

23,056,753

 

22,232,082

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Series B Warrants

 

74,278

 

-

 

-

 

-

Weighted-average shares used in per share computation - diluted

 

23,166,744

 

22,694,283

 

23,056,753

 

22,232,082

Net income per share attributable to CAI common stockholders:

 

 

 

 

 

 

 

 

Basic

$

0.003

$

(0.013)

$

(0.006)

$

(0.042)

Diluted

$

0.003

$

(0.013)

$

(0.006)

$

(0.042)

 

The calculation of diluted earnings per share for the three months ended September 30, 2018 and 2017, excluded from the denominator 6,942,113 and 7,475,166 of shares, respectively, of common stock warrants because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the nine months ended September 30, 2018 and 2017, excluded from the denominator 7,029,569 and 7,475,166 shares, respectively, of common stock warrants because their effect would have been anti-dilutive.

 

The assumed conversion of Series Q Preferred Stock into Common Stock will always be anti-dilutive based on the conversion rate of 1.05% of the Mentor share price. Therefore, the calculation of diluted earnings per share for the three months ended September 30, 2018 and 2017, excluded from the denominator 142,859 and 0 shares, respectively, of Series Q Preferred Stock because the conversion value would have been anti-dilutive. The calculation of diluted earnings per share for the nine months ended September 30, 2018 and 2017, excluded from the denominator 142,859 and 0 shares, respectively, of common stock warrants because their effect would have been anti-dilutive.