"Our top line revenue was really stellar - a new record for the umpteenth time! If we wouldn't have converted the pref to all that common, our earnings per share would have been tremendous ... we really congratulate ourselves on such great hypothetical performance.
But none of that actually happened: Here's the math with all the dilution now."
"Here's the math with all the dilution now".........
..no, it's not dilution...the 10Qs always factored the converted shares into the total shares outstanding when reporting earnings per share, etc...all conversion did was direct money that was going to preferred holders back to the pockets of the common holders -- like me.
Last July, they highlighted only "basic" earnings per share:
Chesapeake, VA - Monarch Financial Holdings, Inc. (Nasdaq: MNRK, MNRKP), the bank holding company for Monarch Bank, reported their best all-time and second quarter profits in the Company’s history. Second quarter 2012 highlights are:
• Record 2nd quarter net income of $2,776,987, up 67%
•Net income available to common shareholders was up 88%
•Basic earnings per share of $0.40, up 90%
•Total assets reach $995 million, with annual asset growth of $86 million