Loss per Common Share

9 Months Ended

Sep. 30, 2012

Loss per Common Share

Loss per Common Share

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):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(Unaudited)						(Unaudited)
Numerator:
Loss applicable to common stockholders	$	(8,853	)	$	(44,438	)	$	(64,486	)	$	(117,119	)
Denominator:
Denominator for basic and diluted loss per common share	19,048			18,225			19,020			17,964
Loss per common share:
Basic and diluted	$	(0.46	)	$	(2.44	)	$	(3.39	)	$	(6.52	)

The calculation of diluted loss per common share for the three months ended September 30, 2012, excludes options to purchase 2,985,773 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 655,153 shares of restricted stock; and preferred stock convertible into 5,921,144 shares of common stock, because the effect would be anti-dilutive.

The calculation of diluted loss per common share for the three months ended September 30, 2011, excludes options to purchase 386,510 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 350,089 shares of restricted stock; and preferred stock convertible into 5,377,461 shares of common stock, because the effect would be anti-dilutive.

The calculation of diluted loss per common share for the nine months ended September 30, 2012, excludes options to purchase 925,720 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 655,153 shares of restricted stock; and preferred stock convertible into 5,921,144 shares of common stock, because the effect would be anti-dilutive.

The calculation of diluted loss per common share for the nine months ended September 30, 2011, excludes options to purchase 407,169 shares of common stock; warrants to purchase 3,735,000 shares of common stock; 350,089 shares of restricted stock; and preferred stock convertible into 5,377,461 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 September 30, 2012 and December 31, 2011.