Annual report pursuant to Section 13 and 15(d)

Net Loss per Share of Common Stock

v3.19.3
Net Loss per Share of Common Stock
 12 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Net Loss per Share of Common Stock
15. Net Loss per Share of Common Stock ● The Company has adopted FASB Topic 260, "Earnings per Share," which requires presentation of basic and diluted EPS on the face of the income statement for all entities with complex capital structures and requires a reconciliation of the numerator and denominator of the basic EPS computation to the numerator and denominator of the diluted EPS computation. In the accompanying financial statements, basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year.  Basic net loss per common share is based upon the weighted average number of common shares outstanding during the period. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. However, shares associated with convertible debt, stock options and stock warrants are not included because the inclusion would be anti-dilutive (i.e. reduce the net loss per common share).  There were no anti-dilutive instruments.

  

    2019     2018  
Numerator - basic and diluted loss per share net loss   $ (4,598,343 )   $ (5,239,494 )
                 
Net loss available to common stockholders   $ (4,598,343 )   $ (5,239,494 )
                 
Denominator – basic and diluted loss per share – weighted average common shares outstanding     47,827,114       35,544,034  
Basic and diluted earnings per share   $ (0.09 )   $ (0.15 )