Note 14 - Loss Per Common Share

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

14.

  Loss per Common Share

The computation of basic net loss per share is based on the weighted average number of common shares outstanding for the years ended

December

31,

2016

and

December

31,

2015

and for the period ended

December

31,

2014

for the Successor and for the period ended

October

15,

2014

for the Predecessor, respectively. The Predecessor diluted net loss per share for the period ended

October

15,

2014

also reflects the weighted average of the underlying Warrant Shares issuable upon exercise of the

615,997

warrants at the exercise price of

$0.01

per share. In accordance with the accounting literature, the Company has given effect to the issuance of these warrants in computing basic net loss per share because the underlying shares are issuable for little or no cash consideration. Diluted net loss per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share for the year ended

December

31,

2016

does not include

1,413,461

unvested stock awards,

152,266

warrants and

1,942,909

stock options as their effect was anti-dilutive. Diluted net loss per share for the year ended

December

31,

2015

does not include

39,231

unvested stock awards,

68,867

stock options and

152,266

warrants as their effect was anti-dilutive. Diluted net loss per share for the Successor Period ended

December

31,

2014

does not include

45,045

stock awards,

123,874

stock options and

152,266

warrants, as their effect was anti-dilutive. Diluted net loss per share as of

October

15,

2014

does not include

123,667

restricted stock units and

1,727,667

stock options, as their effect was anti-dilutive.

	Successor									Predecessor
	Year Ended December 31, 2016			Year Ended December 31, 2015			October 16, 2014 To December 31, 2014			January 1, 2014 To October 15, 2014
Net loss	$	(223,522,435	)	$	(148,296,965	)	$	(11,548,728	)	$	(531,803,257	)
Weighted Average Shares-Basic*		20,565,652			1,880,116			1,875,227			17,857,408
Dilutive effect of stock options and restricted stock units					-			-			-
Weighted Average Shares - Diluted*		20,565,652			1,880,116			1,875,227			17,857,408
Basic loss Per Share	$	(10.87	)	$	(78.88	)	$	(6.16	)	$	(29.78	)
Diluted loss Per Share	$	(10.87	)	$	(78.88	)	$	(6.16	)	$	(29.78	)

*Adjusted to give effect for the

1

for

20

reverse stock split for the Successor that became effective as of the opening of trading on

August

5,

2016.