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NET LOSS PER SHARE
 9 Months Ended 12 Months Ended
Sep. 30, 2017
Dec. 31, 2016
Earnings Per Share [Abstract]    
Earnings Per Share [Text Block]

NOTE 10.   NET INCOME (LOSS) PER SHARE


Basic net income (loss) per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period.  Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised as of the first day of the reporting period, along with the impact of those dilutive securities on net income (loss).


 

 

Three months ended September 30,

 

Nine months ended

September 30,

 

 

2017

 

2016

 

2017

 

2016

Net income (loss)

$

586,873

$

(14,447,094)

$

4,225,197

$

(16,971,797)

Gain on derivative warrant liability

 

(2,421,000)

 

–

 

(10,580,000)

 

–

 

$

(1,834,127)

$

(14,447,094)

$

(6,354,803)

$

(16,971,797)

 

 

 

 

 

 

 

 

 

Weighted average outstanding shares of common stock

 

20,654,502

 

15,495,421

 

19,883,329

 

15,270,968

Warrants – Debt

 

4,778,627

 

–

 

4,960,848

 

–

Stock options

 

3,662,422

 

–

 

4,667,825

 

–

Other warrants

 

91,224

 

–

 

112,186

 

–

Common stock and equivalents

 

29,186,775

 

15,495,421

 

29,624,188

 

15,270,968

 

 

 

 

 

 

 

 

 

Net income (loss) per share

 

 

 

 

 

 

 

 

Basic

$

0.03

$

(0.93)

$

0.21

$

(1.11)

Diluted

 

(0.06)

 

(0.93)

 

(0.21)

 

(1.11)


In 2016, outstanding stock options and common stock warrants are considered anti-dilutive because we were in a net loss position.

NOTE 12.  NET LOSS PER SHARE


Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period.  Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised.


Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position.  Accordingly, the number of weighted average shares outstanding for basic and fully diluted net loss per share are the same.


The following summarizes equity instruments that may, in the future, have a dilutive effect on earnings per share:


 

 

December 31,

 

 

2016

 

2015

Stock options

 

8,818,400

 

2,509,000

Warrants

 

9,783,343

 

2,322,700

Common stock upon conversion of debt

 

–

 

31,661

Stock payable

 

–

 

630,000

 

 

18,601,743

 

5,493,361