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EARNINGS (LOSS) PER COMMON SHARE (AS RESTATED)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER COMMON SHARE (AS RESTATED)

NOTE 14 – EARNINGS (LOSS) PER COMMON SHARE (AS RESTATED)

 

Earnings (loss) per common share-basic is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Net income (loss) per common share-diluted assumes the conversion of all potentially dilutive securities and is calculated by dividing net (loss) income by the sum of the weighted average number of shares of common stock, as defined above, outstanding plus potentially dilutive securities. Net income per common share-diluted considers the impact of potentially dilutive securities. In periods in which there is a loss because the inclusion of the potential common shares, as defined above, would have an anti-dilutive effect.

 

The dilutive effect of convertible securities is calculated using the “if-converted method.” Under the if-converted method, securities are assumed to be converted at the beginning of the period, and the resulting shares of common stock are included in the denominator of the diluted calculation for the entire period being presented.

 

The Company analyzed the potential dilutive effect of all its agreements, however, for periods presented, the Company reported a net loss. As a result, all potentially dilutive securities, including those issued under the Convertible Note and ELOC agreements, were anti-dilutive and therefore excluded from the computation of diluted net loss per share. The following common stock equivalents were excluded from the computation of diluted net loss per share as the result of the computation was anti-dilutive.

 

The calculation of earnings (loss) per common share for the periods indicated below were as follows:


 

                 
   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
   2025

(As restated)

   2024   2025

(As restated)

   2024 
Numerator:                    
Net loss  $(20,398,890)   (174,180)  $(22,456,602)   (1,899,069)
                     
Effect of common stock equivalents   -         -      
Net loss adjusted for common stock equivalents  $(20,398,890)   (174,180)  $(22,456,602)   (1,899,069)
                     
Denominator:                    
Weighted average common shares - basic   

33,995,899

    31,778,032    33,995,899    31,778,032 
                     
Dilutive effect of common stock equivalents:                    
Options and warrants   -         -      
                     
Denominator:                    
Weighted average common shares - diluted   33,995,899    31,778,032    33,995,899    31,778,032 
                     
Loss per common share - basic & diluted  $(0.60)   (0.01)  $(0.66)   (0.06)

 

For the three and nine months ended September 30, 2025 and 2024, the following warrants and options to purchase shares of common stock were excluded from the computation of diluted net income (loss) per common share, as the inclusion of such shares would be anti-dilutive:

 

SCHEDULE OF ANTI-DILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF DILUTED NET INCOME LOSS  

   2025   2024   2025   2024 
   Three Months Ended September 30,   Nine Months Ended September 30, 
   2025   2024   2025   2024 
Stock warrants   9,440    9,440    9,440    9,440 
ELOC shares issued   236,149    -    -    - 
Total   245,589    9,440    9,440    9,440