13.

Net Loss per Share

Basic net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. For periods in which the Company reports net income, diluted net income per share is determined by adding to the basic weighted average number of common shares outstanding the total number of dilutive common equivalent shares using the treasury stock method, unless the effect is anti-dilutive. Potentially dilutive shares were not included in the calculation of diluted net loss per share for each of the three and nine months ended March 31, 2018 and 2017 as their inclusion would be anti-dilutive.

Potential common stock equivalents excluded from the calculation of diluted earnings per share because the effect would have been anti-dilutive were as follows:


	Three Months Ended March 31,				Nine Months Ended March 31,
	2018		2017		2018		2017
Options outstanding		5,955,155		6,797,691		5,955,155		6,797,691
Warrants outstanding		409,091		623,605		409,091		623,605
Restricted stock units outstanding		1,129,116		700,000		1,129,116		700,000
Performance stock units outstanding		241,668		—		241,668		—
Deferred stock units outstanding		67,500		—		67,500		—

		7,802,530		8,121,296		7,802,530		8,121,296