Quarterly report pursuant to Section 13 or 15(d)

4. Loss per share (Tables)

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4. Loss per share (Tables)
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Computation for basic and diluted net income per share
     Three Months Ended March 31,    
    2017     2016  
Numerator            
Net loss   $ (3,481,948 )   $ (2,533,545 )
Undeclared dividends on Series A-1, A-2 and A-4 Convertible Preferred Stock     ( 99,518 )     ( 100,623 )
Conversion price reduction on Series B-2 Preferred Stock (see note 13)     ( 623,574 )     -  
Series B-2 warrant exchange (see note 13)     ( 347,190 )     -  
Dividends declared on Series B-2 Convertible Preferred Stock     ( 183,827 )     ( 1,431,359 )
Net loss attributable to common stockholders   $ (4,736,057 )   $ (4,065,527 )
                 
Denominator                
Basic and diluted weighted average common shares outstanding     20,707,699       13,741,366  
                 
Loss per share                
Basic and diluted   $ (0.23 )   $ (0.30 )
Excluded from calculation of diluted earnings per common share
    For the Three Months Ended March 31,  
    2017     2016  
Warrants     2,697,679       3,005,337  
Convertible preferred stock     2,063,125       2,627,795  
Stock options     2,151,073       1,123,508  
      6,911,877       6,756,640