| EARNINGS (LOSS) PER SHARE |
19.
EARNINGS (LOSS) PER SHARE
The
following table sets forth the computation of basic and diluted earnings (loss) per share for the periods presented:
For
the three months ended June 30, 2026, the Company reported net income; however, basic and diluted earnings per share are the same because
the exercise prices of all outstanding options and warrants exceeded the average market price of the Company’s common stock during
the period, and accordingly the effect of their inclusion would have been anti-dilutive under the treasury stock method. For the three
months ended June 30, 2025 and the six months ended June 30, 2026 and 2025, the Company reported a net loss and all potentially dilutive
common share equivalents were excluded from the calculation of diluted loss per share as their inclusion would have been anti-dilutive.
The
following is a reconciliation of the weighted average number of common shares outstanding used in calculating the basic and diluted net
income (loss) per share for the three and six months ended June 30, 2026 and 2025:
SCHEDULE OF WEIGHTED AVERAGE NUMBER OF SHARES
| W | |
| - | | |
| - | | |
| - | | |
| - | |
| | |
For the Three Months
Ended
June 30, | | |
For the Six Months
Ended
June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
| | |
| | |
| | |
| |
| Weighted average shares outstanding – basic | |
| 398,909,876 | | |
| 3,044,744 | | |
| 320,180,003 | | |
| 2,691,487 | |
| Warrants for noteholders and placement agents | |
| - | | |
| - | | |
| - | | |
| - | |
| Warrants for equity investors | |
| - | | |
| - | | |
| - | | |
| - | |
| Other shares to be issued | |
| - | | |
| - | | |
| - | | |
| - | |
| Weighted average shares outstanding – diluted | |
| 398,909,876 | | |
| 3,044,744 | | |
| 320,180,003 | | |
| 2,691,487 | |
The
following potentially dilutive common share equivalents were excluded from the calculation of diluted earnings (loss) per share:
SCHEDULE
OF EARNINGS (LOSS) PER SHARE
| | |
June 30, 2026 | | |
June 30, 2025 | |
| | |
| | |
| |
| Options | |
| 6,500,000 | | |
| - | |
| Warrants | |
| 13,773,666 | | |
| 145,600 | |
| Convertible notes payable issued in acquisition of Forever 8 Fund, LLC | |
| - | | |
| 42,222 | |
| Total common stock equivalents | |
| 20,273,666 | | |
| 187,822 | |
|