Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Loss per Common Share

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Basic and Diluted Net Loss per Common Share
 6 Months Ended
Aug. 05, 2018
Earnings Per Share [Abstract]  
BASIC AND DILUTED NET LOSS PER COMMON SHARE

NOTE 5 – Basic and Diluted Net Loss per Common Share

 

The following table presents the calculation of loss per share for the thirteen and twenty-six weeks ended August 5, 2018 and July 30, 2017:

 

      For the thirteen weeks ended  
      August 5,
2018		     July 30,
2017		  
  Numerator:            
  Net loss - Basic and diluted   $ (6,969,600 )   $ (2,414,307 )
  Preferred dividends and deemed dividends     (26,731,079 )     (287,032 )
  Net loss attributable to common shares     (33,700,679 )     (2,701,339 )
  Denominator:                
  Weighted average number of common shares for basic and diluted net loss per share     9,077,549       6,000,000  
  Basic and diluted net loss per share   $ (3.71 )   $ (0.45 )

 

      For the twenty-six
weeks ended		  
      August 5,
2018		     July 30,
2017		  
  Numerator:            
  Net loss - Basic and diluted   $ (12,652,848 )   $ (5,751,615 )
  Preferred dividends and deemed dividends     (27,424,079 )     (287,032 )
  Net loss attributable to common shares     (40,076,927 )     (6,038,647 )
  Denominator:                
  Weighted average number of common shares for basic and diluted net loss per share     7,571,377       6,000,000  
  Basic and diluted net loss per share   $ (5.29 )   $ (1.01 )

 

Diluted net loss per common share includes, in periods in which they are dilutive, the effect of those potentially dilutive securities where the average market price of the common stock exceeds the exercise prices for the respective periods.

 

As of August 5, 2018, there were 1,509,044, of potentially dilutive shares including common stock related to restricted stock units of 428,319 and warrants of 1,080,725. As of July 30, 2017, there were no potentially dilutive shares relating to restricted stock units or warrants. These were excluded from the diluted loss per share calculation because the effect of including these potentially dilutive shares was antidilutive.