Loss Per Common Share

12 Months Ended

Dec. 31, 2011

Loss Per Common Share

Loss Per Common Share

NOTE 12: 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):

	Year Ended December 31,
	2011			2010			2009
Numerator:
Loss applicable to common stockholders	$	(231,251	)	$	(147,534	)	$	(34,125	)
Denominator:
Denominator for basic loss per common share	18,211			17,441			10,875
Effect of dilutive securities:
Stock options	—			—			—
Warrants	—			—			—
Restricted stock	—			—			—
Convertible preferred stock	—			—			—
Denominator for diluted loss per common share	18,211			17,441			10,875
Loss per common share:
Basic and diluted	$	(12.70	)	$	(8.46	)	$	(3.14	)

The calculation of diluted loss per common share for the years ended December 31, 2011, 2010 and 2009, excludes options to purchase 324,653 shares, 427,804 shares and 208,673 shares of common stock, respectively; warrants to purchase 2,129,400 shares, 0 shares, and 210,856 shares of common stock, respectively; 299,199 shares, 313,831 shares, and 281,689 shares of restricted stock, respectively; and preferred stock convertible into 5,508,527 shares, 4,865,457 shares, and 4,159,934 shares of common stock for the years ended December 31, 2011, 2010 and 2009, respectively, because the effect would be anti-dilutive.

At December 31, 2011, 2010 and 2009, there were outstanding warrants to purchase 3,735,000 shares, 3,735,000 shares and 514,105 shares, respectively.