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Loss Per Share

3 Months Ended

Mar. 31, 2019

NOTE 8– LOSS PER SHARE

In periods of net loss, basic loss per share is computed by dividing net loss for the period after consideration of the effect of dividends on preferred stock by the weighted average number of shares outstanding during the period.

The loss and the weighted average number of shares used in computing basic and diluted loss per share for the three-month periods ended March 31, 2019 and 2018 are as follows:

	US dollars
	Three-month period ended March 31,
	2019		2018
	(unaudited)
Loss for the period		1,021,653		1,847,794
Cash dividend on Series A Preferred Stock		-		4,700
Stock dividend on Series B Preferred Stock		-		280,159
Stock dividend on Series C Preferred Stock		-		223,733
Loss for the period attributable to common stockholders		1,021,653		2,356,386

	Number of shares
	Three-month period ended March 31,
	2019		2018
	(unaudited)
Number of shares:
Weighted average number of shares used in the computation of basic and diluted earnings per share		143,615,503		7,021,533

Total weighted average number of common shares related to outstanding options and warrants excluded from the calculations of diluted loss per share (*)		76,597,357		25,524,332

(*)

All outstanding stock options and warrants have been excluded from the calculation of the diluted net loss per share for all the reported periods, because the effect of the common shares issuable as a result of the exercise or conversion of these instruments was determined to be anti-dilutive.