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NOTE 8: Loss per Common Share
The following table sets forth the computation of basic and diluted loss per common share (in thousands, except per share data):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2012 |
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2011 |
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2012 |
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2011 |
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(Unaudited)
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(Unaudited)
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Numerator: |
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Loss applicable to common stockholders |
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$ |
(29,983 |
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$ |
(41,707 |
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$ |
(55,633 |
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$ |
(72,681 |
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Denominator: |
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Denominator for basic and diluted loss per common share |
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19,022 |
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17,838 |
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19,006 |
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17,831 |
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Loss per common share: |
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Basic and diluted |
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$ |
(1.58 |
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$ |
(2.34 |
) |
$ |
(2.93 |
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$ |
(4.08 |
) |
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The calculation of diluted loss per common share for the three months ended June 30, 2012, excludes options to purchase 1,180,289 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 660,168 shares of restricted stock; and preferred stock convertible into 5,780,282 shares of common stock, because the effect would be anti-dilutive.
The calculation of diluted loss per common share for the three months ended June 30, 2011, excludes options to purchase 461,803 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 342,049 shares of restricted stock; and preferred stock convertible into 5,105,488 shares of common stock, because the effect would be anti-dilutive.
The calculation of diluted loss per common share for the six months ended June 30, 2012, excludes options to purchase 767,726 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 660,168 shares of restricted stock; and preferred stock convertible into 5,780,282 shares of common stock, because the effect would be anti-dilutive.
The calculation of diluted loss per common share for the six months ended June 30, 2011, excludes options to purchase 447,250 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 342,049 shares of restricted stock; and preferred stock convertible into 5,105,488 shares of common stock, because the effect would be anti-dilutive.
There were outstanding warrants to purchase 3,735,000 shares of common stock at June 30, 2012 and December 31, 2011. |