Net Loss Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Loss Attributable to Common Stockholders

3. NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS

Net loss attributable to common stockholders

The following table summarizes the computation of basic and diluted net loss per share attributable to common stockholders of the Company:

	Three Months Ended March 31,
	2015			2014
Numerator:
Basic
Net (loss) income and comprehensive (loss) income	$	(2,136,559	)	$	401,773
Accretion of preferred stock		—			(191,568	)
Allocation of undistributed earnings to preferred stockholders		—			(223,442	)
Net loss attributable to common stockholders – basic	$	(2,136,559	)	$	(13,237	)
Diluted
Net loss attributable to common stockholders – basic		(2,136,559	)		(13,237	)
Less: change in fair value of derivative liabilities		—			(1,759,915	)
Net loss available to common stockholders – diluted	$	(2,136,559	)	$	(1,773,152	)
Denominator:
Basic
Weighted-average number of common shares – basic		6,667,519			327,365
Diluted
Weighted-average number of common shares – basic		6,667,519			327,365
Warrants to purchase preferred stock (treasury stock)		—			111,610
Total weighted average number of common shares – diluted		6,667,519			438,975
Net loss per share:
Basic	$	(0.32	)	$	(0.04	)
Diluted	$	(0.32	)	$	(4.04	)

The following potentially dilutive securities outstanding, prior to use of the treasury stock method or if-converted method, have been excluded from the computation of diluted weighted-average shares outstanding, because such securities had an antidilutive impact:

	Three Months ended March 31,
	2015		2014
Options to purchase common stock		874,032		609,842
Preferred Stock		—		303,567
Convertible note payable-related parties		—		3,810
Warrants to purchase common stock		1,384,608		—
Total of common stock equivalents		2,258,640		917,219

For the three months ended March 31, 2014, the Company corrected on a prospective basis its calculation of weighted average common shares on a diluted basis from what the Company had disclosed previously for the same period. The prospective modification reflects a change to the Stock options (treasury stock) from 4,851 shares to no shares which also resulted in a change to the diluted net loss per share from ($4.00) to ($4.04).