I did read the purpose for the RS. I haven't read the latest 10K and 10Q thoroughly yet though. Dropping >90% on a bad quarter seems unlikely, Q1 also seem to be a weak quarter for them historically.
I'm really confused by the 10Q considering outstanding shares. Where did the 5,439,447 come from?
17. NET INCOME/(LOSS) PER SHARE
Basic net income/(loss) per share is computed using the weighted average number of the ordinary shares outstanding during the periods.
The following table sets forth the computation of basic net income/(loss) per share for the period ended March 31, 2015 and 2014, respectively:
For the period ended 3/31/2015 3/31/2014
Net Income/(Loss) $(802,846) 114,711
Net Income/(Loss) Per Share – Basic (0.39) 0.06
Net Income/(Loss) Per Share – Fully diluted (0.15) 0.06
Weighted Average Number of Shares Outstanding – Basic 2,065,564 1,998,049
Weighted Average Number of Shares Outstanding – Fully Diluted 5,439,447 1,998,049
They clearly state that it is about 2 million as you said previously on the first page:
Number of shares of common stock, par value $.001, outstanding as of May 18, 2015: 2,140,702
Number of shares of preferred stock outstanding as of May 18, 2015:
Series A, par value $.001 - 13,150
Series B, par value $.001 - 12,100,000
Maybe there's some explanation in the report. They stated the 5.4 million twice in the report so I guess it isn't just an error. They also seem to have calculated the fully diluted EPS on that number.
I'll look into the reports, thanks!
