Earnings (Loss) per Share

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(2) Earnings (Loss) per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is based on the weighted average number of common shares outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options and unvested restricted stock units to the extent such shares are dilutive. 

The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the three and nine months ended September 30, 2018 and 2017:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Basic loss per share attributable to common stock:
Numerator
Net loss	$	(2,459,072	)	$	(4,700,248	)	$	(8,434,543	)	$	(15,651,274	)
Denominator
Weighted avg. common shares outstanding		21,266,639			20,890,580			21,265,247			19,666,131
Basic loss per share attributable to  common stock	$	(0.12	)	$	(0.22	)	$	(0.40	)	$	(0.80	)
Diluted loss per share attributable to common stock:
Numerator
Net loss	$	(2,459,072	)	$	(4,700,248	)	$	(8,434,543	)	$	(15,651,274	)
Denominator
Weighted avg. common shares outstanding		21,266,639			20,890,580			21,265,247			19,666,131
Diluted loss per share attributable to common stock	$	(0.12	)	$	(0.22	)	$	(0.40	)	$	(0.80	)

The computation of diluted loss per share for the three and nine months ended September 30, 2018 and 2017 does not include the following stock options and unvested restricted stock units to purchase shares in the computation of diluted loss per share because these instruments were antidilutive:

	September 30,
	2018		2017
Stock options		2,208,228		2,067,967
Unvested restricted stock units		164,623		272,000