NOTE 1: BASIS OF PRESENTATION
|9 Months Ended|
Sep. 30, 2016
|Disclosure Text Block [Abstract]|
|Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]||
NOTE 1: BASIS OF PRESENTATION
The accompanying unaudited interim financial statements of Clean Coal Technologies, Inc. (“Clean Coal”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in Clean Coal’s Annual Report on Form 10-K filed with the SEC. In the opinion of management, the accompanying unaudited interim financial statements reflect all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim period presented herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or for any future period. Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10K have been omitted.
Net Income (Loss) per Common Share
Basic net income (loss) per share is computed on the basis of the weighted average number of common shares outstanding during each year. Diluted net income (loss) per share is computed similar to basic net income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. In periods where losses are reported, the weighted-average number of common stock outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive.
During 2015, all common stock equivalents were excluded as they would have been anti-dilutive. For the nine months ended September 30, 2016, the dilutive effect of the outstanding common stock options was 0 shares, common stock warrants was 1,929,813 shares, the dilutive effect of the outstanding warrant conversion options was 27,553,046 shares and the dilutive effect of the outstanding convertible debt was 78,643,882 shares, with a reduction to net income of $57,529,457. For the three months ended September 30, 2016, the dilutive effect of the outstanding common stock options was 0 shares, common stock warrants was 1,347,259 shares, the dilutive effect of the outstanding warrant conversion options was 20,476,600 shares and the dilutive effect of the outstanding convertible debt was 78,389,279 shares, with a reduction to net income of $20,464,270.
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.
Reference 1: http://www.xbrl.org/2003/role/presentationRef