Note 2 - Summary of significant accounting policies: Basic and diluted income (loss) per common share (Policies)
|3 Months Ended|
Mar. 31, 2019
|Basic and diluted income (loss) per common share||
Basic and diluted income (loss) per common share
We compute net loss per share in accordance with ASC 260, Earnings Per Share. Under the provisions of ASC 260, basic net loss per share includes no dilution and is computed by dividing the net loss available to common stockholders for the period by the weighted average number of shares of Common Stock outstanding during the period. Diluted net loss per share takes into consideration shares of Common Stock outstanding (computed under basic net loss per share) and potentially dilutive securities that are not anti-dilutive.
Outstanding warrants that had no effect on the computation of dilutive weighted average number of shares outstanding as their effect would be anti-dilutive were approximately 7,000,000 and 7,000,000 as of March 31, 2019 and December 31, 2018, respectively. There were 4,500 and 4,500 potentially dilutive shares outstanding at March 31, 2019 and December 31, 2018, respectively.
Assumed conversion of Series Q Preferred Stock into Common Stock would be anti-dilutive as of March 31, 2019 and December 31, 2018 and is not included in calculating the diluted weighted average number of shares outstanding.
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef