Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share (Tables)

v3.10.0.1
Earnings (Loss) Per Share (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table sets forth basic and diluted earnings (loss) per share for the periods presented:

 

    Three Months Ended September 30,     Nine Months Ended September 30,  
    2018     2017     2018     2017  
Numerator:                                
Net income (loss) from continuing operations   $ 97,356,081     $ (9,817,278 )   $ (3,965,798 )   $ (28,419,936 )
Net income (loss) from discontinued operations     (159,430 )     (1,007,959 )     115,787       (2,752,168 )
Deduct dividends     (17,942,578 )     (2,280,280 )     (17,942,578 )     (53,341,619 )
Net income (loss) to common shareholders - Basic     79,254,074       (13,105,517 )     (21,792,589 )     (84,513,723 )
Deduct change in fair value of derivative liabilities to the extent effect is dilutive     (109,305,331 )     -       -       -  
Amortized discounts associated with dilutive convertible debentures   $ (7,303,912 )   $ -     $ -     $ -  
Change in warrant value     (11,376 )     -       -       -  
Adjusted net loss from continuing operations   $ (37,366,546 )   $ (13,105,517 )   $ (21,792,589 )   $ (84,513,723 )
Add back dividends     17,942,578       2,280,280       17,942,578       53,341,619  
Add Net loss from discontinued operations     159,430       1,007,959       (115,787 )     2,752,168  
Net loss to common shareholders - dilutive   $ (19,264,537 )   $ (9,817,278 )   $ (3,965,798 )   $ (28,419,936 )
Denominator:                                
Weighted average number of common shares outstanding during the period:                                
Basic     5,531,767       2,405       2,550,632       1,367  
Common stock equivalents:                                
Warrants     64,315,740       -       -       -  
Convertible preferred stock     9,505,156       -       -       -  
Convertible debentures     175,301,554       -       -       -  
Diluted     254,654,217       2,405       2,550,632       1,367  
Net income (loss) per common share- continuing operations:                                
Basic   $ 17.60     $ (4,083 )   $ (1.55 )   $ (20,793 )
Diluted   $ (0.08 )   $ (4,083 )   $ (1.55 )   $ (20,793 )
Net income (loss) per common share- discontinued operations:                                
Basic   $ (0.03 )   $ (419 )   $ 0.05     $ (2,014 )
Diluted   $ (0.00 )   $ (419 )   $ 0.05     $ (2,014 )
Total per share net income (loss) to common shareholders:                                
Basic   $ 14.33     $ (5,450 )   $ (1.55 )   $ (61,832 )
Diluted   $ (0.08 )   $ (5,450 )   $ (1.55 )   $ (61,832 )

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

For the nine months ended September 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:

  

    Nine Months Ended September 30,  
    2018     2017  
Warrants     463,449,767       35,977  
Convertible preferred stock     68,344,495       142  
Convertible debentures     214,222,495       8,708  
Stock options     77       77  
      746,016,834       44,904