Quarterly report pursuant to Section 13 or 15(d)

4. Loss per share (Tables)

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4. Loss per share (Tables)
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Computation for basic and diluted net income per share
    Three Months Ended June 30,     Six Months Ended
June 30,
 
    2017     2016     2017     2016  
Numerator                        
Net loss     (2,877,375 )     (2,680,338 )   $ (6,359,323 )   $ (5,213,883 )
Undeclared dividends on Series A-1, A-2 and A-4 Convertible Preferred Stock     (100,624 )     (100,624 )     (200,141 )     (201,247 )
Conversion price reduction on Series B-2 Preferred Stock (see note 13)     -       -       (623,574 )     -  
Series B-2 warrant exchange (see note 13)     -       -       (347,191 )     -  
Dividends declared on Series B-2 Convertible Preferred Stock     (139,874 )     (184,215 )     (323,701 )     (1,615,574 )
Net loss attributable to common stockholders   $ (3,117,873 )   $ (2,965,177 )   $ (7,853,930 )   $ (7,030,704 )
                                 
Denominator                                
Basic and diluted weighted average common shares outstanding     22,408,335       14,864,768       21,562,714       14,306,170  
                                 
Loss per share                                
Basic and diluted   $ (0.14 )   $ (0.20 )   $ (0.36 )   $ (0.49 )
Excluded from calculation of diluted earnings per common share
    For the Six Months Ended June 30,  
    2017     2016  
Warrants     2,657,900       2,971,685  
Convertible preferred stock     2,065,230       2,629,645  
Stock options     2,160,525       1,158,984  
      6,883,655       6,760,314