Note 2 - Summary of significant accounting policies: Basic and diluted income (loss) per common share (Policies)
|12 Months Ended|
Dec. 31, 2020
|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 December 31, 2020 and 2019, respectively. There were 87,456 and 87,456 potentially dilutive shares outstanding at December 31, 2020 and 2019, respectively.
Assumed conversion of Series Q Preferred Stock into Common Stock would be anti-dilutive as of December 31, 2020 and 2019 and is not included in calculating the diluted weighted average number of shares outstanding.
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef