Loss Per Common Share

9 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Loss Per Common Share

10.   Loss Per Common Share

The Company applies the two -class method in calculating per share data.  The following table summarizes the calculation of net loss and weighted average common shares and common equivalent shares outstanding for purposes of the computation of loss per share (in thousands, except share and per share data):

	Three Months Ended						Nine Months Ended
	June 30, 2017			June 30, 2016			June 30, 2017			June 30, 2016
Net loss	$	(14,376	)	$	(11,654	)	$	(37,584	)	$	(33,661	)
Less: Income allocable to unvested restricted stock		—			—			—			—
Loss available to common shareholders		(14,376	)		(11,654	)		(37,584	)		(33,661	)
Reallocation of participating earnings		—			—			—			—
Loss attributable to common shareholders for diluted    earnings per share	$	(14,376	)	$	(11,654	)	$	(37,584	)	$	(33,661	)
Weighted average number of common share equivalents:
Common shares used in basic loss per share		13,147,016			13,051,916			13,129,196			13,042,000
Common share equivalents outstanding related to    stock options		—			—			—			—
Total weighted average common shares and common    share equivalents used in diluted loss per share		13,147,016			13,051,916			13,129,196			13,042,000
Loss per share:
Basic	$	(1.09	)	$	(0.89	)	$	(2.86	)	$	(2.58	)
Diluted	$	(1.09	)	$	(0.89	)	$	(2.86	)	$	(2.58	)

For the calculation of diluted loss per share for the three and nine months ended June 30, 2017 and 2016, 201,800 stock options and 159,000 stock options, respectively, were excluded in the calculation of weighted average shares outstanding as a result of their impact being antidilutive.