Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Summary of significant accounting policies: Basic and diluted income (loss) per common share (Policies)

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Note 2 - Summary of significant accounting policies: Basic and diluted income (loss) per common share (Policies)
9 Months Ended
Sep. 30, 2020
Policies  
Basic and diluted income (loss) per common share

Basic and diluted income (loss) per common share

 

We compute net income (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 income (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 September 30, 2020 and December 31, 2019, respectively. There were 87,456 and 87,456 potentially dilutive shares outstanding at September 30, 2020 and December 31, 2019, respectively.

 

Conversion of Series Q Preferred Stock into Common Stock would be anti-dilutive for the three and nine months ended September 30, 2020 and 2019 and is not included in calculating the diluted weighted average number of shares outstanding.