| Earnings (Loss) Per Share |
Note 3 – Earnings (Loss) Per Share
The following table sets forth basic and diluted
earnings (loss) per share for the periods presented:
| |
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
| |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) from continuing operations |
|
$ |
45,464,498 |
|
|
$ |
(10,000,288 |
) |
|
$ |
(101,321,877 |
) |
|
$ |
(18,602,657 |
) |
| Deduct change in fair value of derivative liabilities to the extent effect is dilutive |
|
|
(44,091,731 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Amortize discounts associated with conversion of dilutive convertible debentures |
|
|
(7,354,747 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Adjusted net loss from continuing operations |
|
$ |
(5,981,980 |
) |
|
$ |
(10,000,288 |
) |
|
$ |
(101,321,877 |
) |
|
$ |
(18,602,657 |
) |
| Net income (loss) from discontinued operations |
|
|
(146,577 |
) |
|
|
(677,921 |
) |
|
|
275,216 |
|
|
|
(1,744,209 |
) |
| Dividends |
|
|
- |
|
|
|
(3,508,587 |
) |
|
|
- |
|
|
|
(51,061,339 |
) |
| Net loss to common shareholders |
|
$ |
(6,128,557 |
) |
|
$ |
(14,186,796 |
) |
|
$ |
(101,046,661 |
) |
|
$ |
(71,408,205 |
) |
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted average number of common shares outstanding during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
810,165,997 |
|
|
|
506,288 |
|
|
|
517,679,176 |
|
|
|
415,760 |
|
| Common stock equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants |
|
|
8,737,863,005 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Convertible preferred stock |
|
|
946,457,265 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Convertible debentures |
|
|
1,405,619,963 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Diluted |
|
|
11,900,106,250 |
|
|
|
506,288 |
|
|
|
517,679,176 |
|
|
|
415,760 |
|
| Net income (loss) per common share- continuing operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.06 |
|
|
$ |
(19.75 |
) |
|
$ |
(0.20 |
) |
|
$ |
(44.74 |
) |
| Diluted |
|
$ |
(0.00 |
) |
|
$ |
(19.75 |
) |
|
$ |
(0.20 |
) |
|
$ |
(44.74 |
) |
| Net income (loss) per common share- discontinued operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.00 |
) |
|
$ |
(1.34 |
) |
|
$ |
0.00 |
|
|
$ |
(4.20 |
) |
| Diluted |
|
$ |
(0.00 |
) |
|
$ |
(1.34 |
) |
|
$ |
0.00 |
|
|
$ |
(4.20 |
) |
| Total per share net income (loss) to common shareholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.06 |
|
|
$ |
(28.02 |
) |
|
$ |
(0.20 |
) |
|
$ |
(171.75 |
) |
| Diluted |
|
$ |
(0.00 |
) |
|
$ |
(28.02 |
) |
|
$ |
(0.20 |
) |
|
$ |
(171.75 |
) |
Diluted loss per share as reflected in the
table above excludes all dilutive potential shares if their effect is anti-dilutive. For the six months ended June 30, 2018 and
2017, the following table sets forth the computation of the following potential common stock equivalents excluded from the calculation
of diluted loss per share as their effect was anti-dilutive:
| |
|
Six Months Ended June 30, |
|
| |
|
2018 |
|
|
2017 |
|
| Warrants |
|
|
31,707,431,064 |
|
|
|
10,416,216 |
|
| Convertible preferred stock |
|
|
3,842,115,385 |
|
|
|
10,256 |
|
| Convertible debentures |
|
|
1,738,235,193 |
|
|
|
783,241 |
|
| Stock options |
|
|
38,478 |
|
|
|
38,744 |
|
| |
|
|
37,287,820,120 |
|
|
|
11,248,457 |
|
|