Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

v3.10.0.1
Earnings (Loss) Per Share
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
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