| Note 7. Earnings per Share |
Earnings
per share have been calculated using the weighted average number of shares outstanding during each period. There was negative
net income during the six months ended June 30, 2013 and the three months ended June 30, 2013 and 2012, therefore the Company’s
Convertible Preferred Shares would not constitute potentially dilutive securities. However, the net income for the six months
ended June 30, 2012 would have made these securities anti-dilutive. Earnings per share at June 30, 2013, is calculated using the
number of common shares issued to effect the business combination as being outstanding during the entire period.
Earnings (loss)
per share of common stock are calculated as follows:
| | |
For the Three Months
Ended June 30, | |
| | |
2013 | | |
2012 | |
| BASIC EARNINGS PER SHARE
OF COMMON STOCK: | |
| | | |
| | |
| Net
loss available to IPLO common stockholders | |
$ | (5,145 | ) | |
$ | (107,386 | ) |
| Weighted average common
shares outstanding | |
| 4,961,357 | | |
| 4,961,357 | |
| Basic loss per share
of common stock | |
$ | (0.00 | ) | |
$ | (0.02 | ) |
| | |
| | | |
| | |
| DILUTED EARNINGS PER SHARE OF COMMON STOCK: | |
| | | |
| | |
| Net
loss available to IPLO common stockholders | |
$ | (5,145 | ) | |
$ | (107,386 | ) |
| Weighted average common shares outstanding | |
| 4,961,357 | | |
| 4,961,357 | |
| Effect of dilutive securities: | |
| | | |
| | |
| Convertible
preferred stock | |
| – | | |
| – | |
| Weighted
average common shares outstanding after effect of dilutive securities | |
| 4,961,357 | | |
| 4,961,357 | |
| Diluted loss per share
of common stock | |
$ | (0.00 | ) | |
$ | (0.02 | ) |
| | |
For the Six Months
Ended June 30, | |
| | |
2013 | | |
2012 | |
| BASIC EARNINGS PER SHARE
OF COMMON STOCK: | |
| | | |
| | |
| Net
earnings (loss) available to IPLO common stockholders | |
$ | (33,259 | ) | |
$ | 39,304 | |
| Weighted average common
shares outstanding | |
| 4,961,357 | | |
| 4,961,357 | |
| Basic
earnings (loss) per share of common stock | |
$ | (0.01 | ) | |
$ | 0.01 | |
| | |
| | | |
| | |
| DILUTED EARNINGS PER SHARE OF COMMON STOCK: | |
| | | |
| | |
| Net
earnings (loss) available to IPLO common stockholders | |
$ | (33,259 | ) | |
$ | 39,304 | |
| Weighted average common shares outstanding | |
| 4,961,357 | | |
| 4,961,357 | |
| Effect of dilutive securities: | |
| | | |
| | |
| Convertible
preferred stock | |
| – | | |
| 1,374,730 | |
| Weighted
average common shares outstanding after effect of dilutive securities | |
| 4,961,357 | | |
| 6,336,087 | |
| Diluted
earnings (loss) per share of common stock | |
$ | (0.01 | ) | |
$ | 0.01 | |
|