3. Loss per Share
|12 Months Ended|
Dec. 31, 2015
|Loss Per Share|
|3. Loss per Share||
Basic and diluted loss per share is computed by dividing (i) loss available to common stockholders, adjusted by approximately $1.9 million and $2.3 million gain on the fair value of the Companys derivative liability for the year ended December 31, 2015 and 2014, respectively, that was attributable to 728,333 outstanding warrants with a nominal exercise price and dividends paid on Fusions preferred stock, by (ii) the weighted-average number of shares of common stock outstanding during the period, increased by the number of shares underlying such warrants with a nominal exercise price as if such exercise had occurred at the beginning of the year.
The following table sets forth the computation of the Companys basic and diluted net loss per share during the years ended December 31, 2015, and 2014:
For the years ended December 31, 2015 and 2014, the following were excluded from the calculation of diluted earnings per common share because of their anti-dilutive effects:
The net loss per common share calculation includes a provision for preferred stock dividends on the Companys outstanding Series A-1 Preferred Stock, Series A-2 Preferred Stock and Series A-4 Preferred Stock (collectively, the Series A Preferred Stock) in the approximate amount of $404,000 for the years ended December 31, 2015 and 2014, respectively. As of December 31, 2015, Fusions Board of Directors had not declared any dividends on the Series A Preferred Stock, and the Company had accumulated approximately $4.3 million of preferred stock dividends. These dividends could be paid, at our option, either in cash or, in approximately 170,142 shares of our common stock.
Fusions Board of Directors has declared a dividend of approximately $1,174,620 and $1,342,603 for the years ended December 31, 2015 and 2014, respectively, related to the Companys Series B-2 Preferred Stock (the Series B Preferred Stock), which, in accordance with the terms of the Series B-2 Preferred Stock, was paid in the form of 434,201 and 299,216, shares of Fusions common stock.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef