3. Loss per Share

The following table sets forth the calculation of basic and diluted loss per share for the periods presented (in thousands, except per share data):


	June 30,
	2013			2012			2011
Loss from continuing operations	$	(11,349	)	$	(8,352	)	$	(6,786	)
Loss from discontinued operations, including loss on disposal in 2011 of $5,405, net		—			—			(5,769	)

Net loss		(11,349	)		(8,352	)		(12,555	)
Preferred stock dividends		(384	)		(394	)		(285	)
Deemed preferred stock dividends		(906	)		(223	)		—

Net loss applicable to common shareholders	$	(12,639	)	$	(8,969	)	$	(12,840	)

Weighted average shares		28,086			25,700			21,948

Basic and diluted loss per common share	$	(0.45	)	$	(0.35	)	$	(0.59	)

The deemed preferred stock dividends included in the loss per share calculation represent the accretion of the fair value of the warrants issued in connection with the extension of the redemption date of the Series C 15% convertible redeemable preferred stock over the period from issuance through the conversion date in April 2013. Beginning in June 2013, the deemed preferred stock dividends also include the accretion of the fair value allocated to a non-cash beneficial conversion feature related to the Series D preferred stock issued in June 2013. The beneficial conversion feature is being amortized over the period from issuance through the earliest permitted conversion date in December 2013. As discussed more fully in Note 11 of Notes to Consolidated Financial Statements, the fair value of the warrants was determined using the Black-Scholes option pricing model. All common stock equivalents were excluded from the loss per share calculation for all periods presented because the impact is antidilutive. At June 30, 2013 options (2,643,000), restricted stock units (576,000), warrants (24,966,000), Series D preferred stock (6,125,000) and Series B preferred stock (250,000) were outstanding. At June 30, 2012, options (2,533,000), warrants (8,651,000), Series C preferred stock (2,500,000) and Series B preferred stock (250,000) were outstanding. At June 30, 2011, options (2,222,000), warrants (3,410,000) Series C preferred stock (2,500,000) and Series B preferred stock (250,000) were outstanding.