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Earnings Per Share
9 Months Ended
Sep. 30, 2020
Earnings (Loss) per Share  
Earnings Per Share

9. Earnings per Share

 

For the nine-months ended September 30, 2020, Earnings per Share (EPS) is $(0.02) (basic and diluted) compared to the EPS for the nine-months ended September 30, 2019 of $0.00 (basic and diluted) using the weighted average number of shares of 50,547,286 (basic and diluted) and 35,236,355 basic and 50,259,078 diluted respectively.

 

Earnings per Share (EPS) is $(0.01) (basic and diluted) for the three months ended September 30, 2020 compare to the three months ended September 30, 2019 of $0.01 basic and $0.00 diluted using the weighted average number of shares of 57,148,856 (basic and diluted) and 40,639,077 basic and 55,710,518 diluted respectively.

 

There are 299,000,000 shares authorized, 61,259,391 and 39,906,790 shares issued and outstanding, as at September 30, 2020 and 2019 respectively. As of September 30, 2020 the Company has 7,336,994 shares to be issued. The computation of loss per share is based on the weighted average number of shares outstanding during the period in accordance with ASC Topic No. 260, “Earnings Per Share”. Shares underlying the Company’s outstanding warrants and convertible promissory notes were excluded due to the anti-dilutive effect they would have on the computation. At September 30, 2020 the Company has 2,250,000 warrants convertible to 2,250,000 common shares and convertible promissory note convertible to 3,448,025 common shares for a total underlying common shares of 5,698,025. At September 30, 2019 there were no underlying common shares.