3. Loss per Share
|12 Months Ended|
Dec. 31, 2016
|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 for the gain on the fair value of the Companys derivative liability for the year ended December 31, 2015 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, 2016, and 2015:
For the years ended December 31, 2016 and 2015, the following outstanding securities 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) of $0.4 million for the years ended December 31, 2016 and 2015. As of December 31, 2016, Fusions Board of Directors had not declared any dividends on the Series A Preferred Stock, and the Company had accumulated $4.7 million of preferred stock dividends.
Fusions Board of Directors declared a dividend of $2.0 million and $1.2 million forthe years ended December 31, 2016 and 2015, respectively, related to the Companys Series B-2 Convertible Preferred Stock (the Series B Preferred Stock), which, as permitted by the terms of the Series B-2 Preferred Stock, was paid in the form of 1,140,568 and 434,201 shares of Fusions common stock. The dividends paid in 2016 include an additional $1.2 million in dividends paid in the form of 666,667 shares of Fusions common stock to a holder of 5,000 shares of Series B-2 Preferred Stock in connection with the holders agreement to convert all of its Series B-2 Preferred Stock holdings into shares of Fusions common stock
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef