LOSS PER SHARE

The Company presents basic and diluted loss per share for its common stock, par value $0.0001 per share (“Common Stock”). Basic loss per share is calculated by dividing the net loss attributable to common stockholders of the Company by the weighted average number of shares of Common Stock outstanding during the period. Diluted loss per share is determined by adjusting the profit or loss attributable to stockholders and the weighted average number of shares of Common Stock outstanding adjusted for the effects of all dilutive potential common shares comprised of options granted, unvested restricted stock, stock appreciation rights, the 2017 Warrants and Series A and Series C Convertible Preferred Stock. Potential Common Stock equivalents that have been issued by the Company related to outstanding stock options, unvested restricted stock and warrants are determined using the treasury stock method, while potential common shares related to Series A and Series C Convertible Preferred Stock are determined using the “if converted” method.

The Company's Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”), and Series C Convertible Preferred Stock, par value $0.0001 per share (the “Series C Preferred Stock” and, together with the Series A Preferred Stock, the “Preferred Stock”), is considered a participating security, which means the security may participate in undistributed earnings with Common Stock. The holders of the Preferred Stock would be entitled to share in dividends, on an as-converted basis, if the holders of Common Stock were to receive dividends. The Company is required to use the two-class method when computing loss per share when it has a security that qualifies as a participating security. The two-class method is an earnings allocation formula that determines loss per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. In determining the amount of net earnings to allocate to common stockholders, earnings are allocated to both common and participating securities based on their respective weighted-average shares outstanding during the period. Diluted loss per share for the Company’s Common Stock is computed using the more dilutive of the two-class method or the if-converted method.

The following table sets forth the computation of basic and diluted loss per common share (in thousands, except per share amounts):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Loss from continuing operations	$	(14,166	)	$	(15,124	)	$	(24,448	)	$	(28,111	)
Loss from discontinued operations, net of income taxes	(1,500		)	(15		)	(1,500		)	(45		)
Net loss	$	(15,666	)	$	(15,139	)	$	(25,948	)	$	(28,156	)
Accrued dividends on preferred stock	(3,068		)	(2,756		)	(6,025		)	(5,413		)
Loss attributable to common stockholders, basic	$	(18,734	)	$	(17,895	)	$	(31,973	)	$	(33,569	)
Income effect of 2017 Warrants	—			—			(4,784		)	(375		)
Loss attributable to common stockholders, diluted	$	(18,734	)	$	(17,895	)	$	(36,757	)	$	(33,944	)

Denominator:
Weighted average number of common shares outstanding, basic	128,779			128,038			128,446			127,906
Dilutive effect of 2017 Warrants	—			—			2,053			2,252
Weighted average number of common shares outstanding, diluted	128,779			128,038			130,499			130,158

Basic loss per share:
Loss from continuing operations	$	(0.13	)	$	(0.14	)	$	(0.24	)	$	(0.26	)
Loss from discontinued operations	(0.01		)	—			(0.01		)	—
Basis loss per share	$	(0.14	)	$	(0.14	)	$	(0.25	)	$	(0.26	)

Diluted loss per share:
Loss from continuing operations	$	(0.13	)	$	(0.14	)	$	(0.27	)	$	(0.26	)
Loss from discontinued operations	(0.01		)	—			(0.01		)	—
Diluted loss per share	$	(0.14	)	$	(0.14	)	$	(0.28	)	$	(0.26	)

The loss attributable to common stockholders is used as the basis of determining whether the inclusion of common stock equivalents would be anti-dilutive. Accordingly, the computation of diluted shares for the three months ended June 30, 2019 and 2018 excludes the effect of shares that would be issued in connection with the March 2015 PIPE transaction and related rights offering, stock options, restricted stock awards and 2017 Warrants, as their inclusion would be anti-dilutive to loss attributable to common stockholders. The computation of diluted shares for the six months ended June 30, 2019 and 2018 excludes the effect of shares that would be issued in connection with the March 2015 PIPE transaction and related rights offering, stock options, and restricted stock awards, as their inclusion would be anti-dilutive to loss attributable to common stockholders.