Basic Earnings (Loss) per
In February 1997, the FASB issued
ASC 260, “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings
(loss) per share for entities with publicly held common stock. ASC 260 supersedes the provisions of APB No. 15, and requires the
presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of
ASC 260 effective (inception).
Basic net loss per share amounts
is computed by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share
are the same as basic earnings per share due to the lack of dilutive items in the Company.