NET LOSS PER SHARE - Note 2

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Net Loss Per Share - Note 2

2. NET LOSS PER SHARE

Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the reporting periods. Diluted net loss per share is calculated using the weighted-average number of common shares outstanding and taking into account the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities outstanding. Potentially dilutive common stock equivalents primarily consist of warrants, employee stock options and nonvested equity shares. Diluted net loss per share for the three and nine months ended September 30, 2013 and 2012 is equal to basic net loss per share because the effect of all potential common stock outstanding during the periods, including options, warrants and nonvested equity shares is anti-dilutive. The components of basic and diluted net loss per share were as follows (in thousands, except loss per share data):

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
Numerator:
Net loss available for common shareholders - basic and diluted	$	(3,667)	$	(3,845)	$	(10,757)	$	(18,619)
Denominator:
Weighted-average common shares outstanding - basic and diluted		28,448		24,974		26,739		20,406
Net loss per share - basic and diluted	$	(0.13)	$	(0.15)	$	(0.40)	$	(0.91)

We excluded the following convertible securities from diluted net loss per share, as the effect of including them would have been anti-dilutive:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2013	2012	2013	2012
Publicly Traded Warrants Exercisable	-	753,000	-	753,000
Options and Private Warrants Exercisable	10,239,000	5,711,000	10,239,000	5,711,000
Nonvested Equity Shares	308,000	339,000	308,000	339,000
Total	10,547,000	6,803,000	10,547,000	6,803,000