Net Loss per Common Share

3 Months Ended

Mar. 31, 2017

7. Net Loss per Common Share

Basic net loss per common share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated using the weighted average number of common shares outstanding plus dilutive common stock equivalents outstanding during the period. Common stock equivalents are excluded for the three month periods ended March 31, 2017 and 2016, since the effect is anti-dilutive due to the Company’s net losses. Common stock equivalents include stock options, warrants and unvested restricted stock.

Basic weighted average common shares outstanding, and the potentially dilutive securities excluded from loss per share computations because they are anti-dilutive, are as follows as of March 31, 2017 and 2016, respectively:

	Three Month Period Ended
	March 31,
	2017		2016
Basic and diluted weighted average common stock shares outstanding		12,964,639		12,457,858
Potentially dilutive securities excluded from loss per share computations:
Common stock options		3,387,581		2,451,570
Common stock purchase warrants		7,603,141		7,195,997
Restricted stock unvested		282,350		150,000