NET LOSS PER SHARE - Note 2

3 Months Ended

Mar. 31, 2014

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 months ended March 31, 2014 and 2013 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
		March 31,
		2014		2013
Numerator:
Net loss available for common shareholders - basic and diluted	$	(8,018)	$	(3,654)
Denominator:
Weighted-average common shares outstanding - basic and diluted		34,842		25,240
Net loss per share - basic and diluted	$	(0.23)	$	(0.14)

On March 31, 2014 and 2013, we excluded the following convertible securities from diluted net loss per share, as the effect of including them would have been anti-dilutive: publicly traded warrants exercisable for 0 and 753,000 shares of common stock, respectively, options and private warrants exercisable into a total of 8,388,000 and 5,657,000 shares of common stock, respectively, and 108,000 and 176,000 nonvested equity shares, respectively.