Quarterly report pursuant to Section 13 or 15(d)

3. Loss per share (Tables)

v3.5.0.2
3. Loss per share (Tables)
9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Computation for basic and diluted net income per share

 

    Three Months Ended September 30,     Nine Months Ended September 30,  
    2016     2015     2016     2015  
Numerator                        
Net loss   $ (3,145,154 )   $ (4,859,491 )   $ (8,359,037 )   $ (9,835,620 )
Dividends on Series A-1, A-2 and A-4 Convertible Preferred Stock     (101,729 )     (101,730 )     (302,976 )     (301,871 )
Dividends declared on Series B-2 Convertible Preferred Stock     (183,917 )     (278,010 )     (1,799,491 )     (884,955 )
Gain on nominal warrants     -       (1,187,183 )     -       (1,930,083 )
Adjusted loss attributable to common stockholders   $ (3,430,800 )   $ (6,426,414 )   $ (10,461,504 )   $ (12,952,529 )
                                 
Denominator                                
Basic and diluted weighted average common shares outstanding     14,990,816       8,958,815       14,536,893       8,529,642  
Loss per share                                
Basic and diluted   $ (0.23 )   $ (0.72 )   $ (0.72 )   $ (1.52 )
                                 

 

Excluded from calculation of diluted earnings per common share

 

    Nine Months Ended September 30,  
    2016     2015  
Warrants     2,946,948       3,011,760  
Convertible preferred stock     2,626,518       3,992,471  
Stock options     1,157,512       677,126  
      6,730,978       7,681,357