| Basic and Diluted Net Loss per Share |
The following table details the computation of the basic and
diluted net loss per share (in thousands, except shares and per
share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year
Ended |
|
|
Nine Months Ended |
|
|
Year Ended |
|
| |
|
December 31, |
|
|
December 31, |
|
|
March 31, |
|
| ($ in thousands, except EPS) |
|
2013 |
|
|
2012 |
|
|
2012 |
|
|
Net income (loss)
|
|
$ |
7,308 |
|
|
$ |
(4,238 |
) |
|
$ |
(11,944 |
) |
|
Less: Earnings allocated to participating securities (1)
|
|
$ |
(7,117 |
) |
|
$ |
— |
|
|
|
— |
|
|
Net income (loss) available to common shareholders after required
adjustments for the calculation of basic and diluted earnings per
common share
|
|
$ |
191 |
|
|
$ |
(4,238 |
) |
|
$ |
(11,944 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average common shares outstanding
|
|
|
12,889,284 |
|
|
|
10,339,919 |
|
|
|
8,781,407 |
|
|
Weighted average effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock Options
|
|
|
7,135,601 |
|
|
|
— |
|
|
|
— |
|
|
Warrants
|
|
|
331,859 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted weighted average common shares outstanding
|
|
|
20,356,744 |
|
|
|
10,339,919 |
|
|
|
8,781,407 |
|
|
Earnings per common share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.01 |
|
|
$ |
(0.41 |
) |
|
$ |
(1.36 |
) |
|
Diluted
|
|
$ |
0.01 |
|
|
$ |
(0.41 |
) |
|
$ |
(1.36 |
) |
| (1) |
In a period with net income, both
earnings and dividends (if any) are allocated to participating
securities. In a period with a net loss, only dividends (if any)
are allocated to participating securities. |
|