16. NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2019

NET LOSS PER COMMON SHARE

16. NET LOSS PER COMMON SHARE

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants, restricted stock and shares issuable on convertible debt, have not been included in the computation of diluted net loss per share for all periods presented, as the result would be anti-dilutive. For the years presented, the gain on derivative instruments is not included in net loss available to common shareholders for purposes of computing dilutive loss per share because its effect is anti-dilutive.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

	Year ended September 30,
	2019			2018
Loss per share – basic and diluted
Net loss available to common shareholders	$	(22,134,640	)	$	(31,851,573	)
Weighted average shares outstanding		31,174,394			17,004,722
Basic and diluted loss per common share	$	(0.71	)	$	(1.87	)

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net loss per share excludes the following dilutive securities because their inclusion would have been anti-dilutive as of September 30:

	2019		2018
Options and Warrants		7,164,544		11,794,603
Unvested Restricted Stock		304,500		312,000
Total		7,469,044		12,106,603

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period. The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants, restricted stock and shares issuable on convertible debt, have not been included in the computation of diluted net loss per share for all periods presented, as the result would be anti-dilutive. For the years presented, the gain on derivative instruments is not included in net loss available to common shareholders for purposes of computing dilutive loss per share because its effect is anti-dilutive.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

	Year ended September 30,
	2019			2018
Loss per share – basic and diluted
Net loss available to common shareholders	$	(22,134,640	)	$	(31,851,573	)
Weighted average shares outstanding		31,174,394			17,004,722
Basic and diluted loss per common share	$	(0.71	)	$	(1.87	)