The following table sets forth the computation of basic and diluted loss per common share (in thousands, except per share data):

	Three Months Ended June 30,						Six Months Ended June 30,

	2012			2011			2012			2011
	(Unaudited)						(Unaudited)
Numerator:
Loss applicable to common stockholders	$	(29,983	)	$	(41,707	)	$	(55,633	)	$	(72,681	)
Denominator:
Denominator for basic and diluted loss per common share		19,022			17,838			19,006			17,831

Loss per common share:
Basic and diluted	$	(1.58	)	$	(2.34	)	$	(2.93	)	$	(4.08	)

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.