| Schedule of Basic and Diluted Net Income Per Common Share |
The following is a reconciliation of weighted
common shares outstanding used in the calculation of basic and diluted net income per common share:
| |
|
Three Months
Ended
3/31/2016 |
|
|
Three Months
Ended
3/31/2015 |
|
| |
|
|
|
|
|
|
| Net income (loss) attributable to common shareholders |
|
$ |
(2,573,344 |
) |
|
$ |
6,633 |
|
| Adjustments for dilutive shares: |
|
|
|
|
|
|
|
|
| Interest savings |
|
|
153,365 |
|
|
|
352,458 |
|
| Reversal of derivative gains |
|
|
(1,367,950 |
) |
|
|
(2,821,725 |
) |
| Net income (loss) - adjusted |
|
|
(2,593,269 |
) |
|
|
(2,462,634 |
) |
Weighted average shares used for basic net income
per common share |
|
|
7,577,897,074 |
|
|
|
3,718,144,025 |
|
| Incremental diluted shares |
|
|
— |
|
|
|
— |
|
| Weighted average shares used for diluted net income per common share |
|
|
7,577,897,074 |
|
|
|
3,718,144,025 |
|
| Net income (loss) per common share: |
|
|
|
|
|
|
|
|
| Basic |
|
$ |
0.00 |
|
|
$ |
(0.00 |
) |
| Diluted |
|
$ |
0.00 |
|
|
$ |
(0.00 |
|
|
| Schedule of Statement of Operations |
The table below summarizes the impact of the
retrospective application described above on financial information previously reported on the Company’s Form 10-K for the
annual period ended December 31, 2015:
| |
|
Original |
|
|
Adjustments |
|
|
As Adjusted |
|
| |
|
|
|
|
|
|
|
|
|
| Statement for of Operations for the Year Ended 12/31/15: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense – financing cost |
|
$ |
— |
|
|
$ |
(646,975 |
) |
|
$ |
(646,975 |
) |
| Total other income (expense), net |
|
|
18,215,015 |
|
|
|
(646,975 |
) |
|
|
17,568,040 |
|
| Income (loss) before provision for income taxes |
|
|
16,533,004 |
|
|
|
(646,975 |
) |
|
|
15,886,029 |
|
| Net income (loss) |
|
|
16,386,527 |
|
|
|
(646,975 |
) |
|
|
15,739,552 |
|
| Net income (loss) attributable to Company |
|
|
13,254,268 |
|
|
|
(646,975 |
) |
|
|
12,607,293 |
|
| Net income (loss) attributable to common shareholders |
|
|
13,009,764 |
|
|
|
(646,975 |
) |
|
|
12,362,789 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings (loss) per Share – Basic |
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
| Net income (loss) per share – basic |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings (loss) per Share – Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from continuing operations |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
| Net income (loss) per share – diluted |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|