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WORLD MEDIA & TECHNOLOGY CORP. - Statements of Operations - 8 months ended Dec. 31, 2014 - USD ($)	Total
Income Statement
Revenues
OPERATING EXPENSES
Sales and general administrative	$ 63,724
Research and development expenses	522,388
TOTAL OPERATING EXPENSES	586,112
Net loss from continuing operations	(586,112)
Net loss	$ (586,112)
Weighted average number of common shares outstanding - basic and fully diluted	8,142,082
Net loss per shares- basic and fully diluted	$ (0.07)

The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.

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The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.

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Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).

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World Media & Technology Corp. 10-K/A