Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Components of the calculations of basic and diluted earnings per share:

	Three Months Ended						Nine Months Ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Numerator:
Net loss attributable to common shareholders	$	(9,377,064	)	$	(15,947,280	)	$	(81,461,024	)	$	(33,861,726	)
Denominator:
Weighted average number of common shares outstanding	169,557,223			84,150,851			154,539,225			67,194,806

Schedule of potential dilutive common shares

	At September 30,
	2014	2013
Stock options outstanding	7,267,404	4,145,689
Restricted stock outstanding	433,336	—
Common stock warrants (1)	4,219,442	27,636,465
Preferred stock (2)	5,554,594	10,972,859
Number of dilutive potential common shares	17,474,776	42,755,013

(1) In May 2011, the Company issued 7,128,563 warrants as part of an underwritten public offering. As a result of additional public offerings, and pursuant to the effect of the anti-dilution provisions of these warrants, the number of warrants increased to 22,995,365. Of the warrants issued in May 2011, 22,776,023 have been exercised as of September 30, 2014. In February 2013, the Company issued 23,637,500 warrants as part of an underwritten public offering. Of the warrants issued in February 2013, 23,637,400 were exercised as of September 30, 2014. In January 2014, the Company issued 4,000,000 warrants as part of an underwritten public offering. Of the warrants issued in January 2014, none of have been exercised as of September 30, 2014.

(2) The preferred stock amount represents the dilutive potential common shares of the Series C redeemable convertible preferred stock issued on May 16, 2013 based on the conversion price of the preferred stock as of September 30, 2014. Of the 10,431 preferred shares issued in May 2013, 5,200 had been converted to common stock as of September 30, 2014.