Note 13. Loss Per Share

The calculation of basic and diluted loss per share was as follows:

	Three Months Ended July 31,						Nine Months Ended July 31,
	2018			2017			2018			2017
Numerator
Net loss	$	(15,881	)	$	(17,001	)	$	(33,238	)	$	(43,924	)
Series C preferred stock deemed dividends		(939	)		—			(8,601	)		—
Series B preferred stock dividends		(800	)		(800	)		(2,400	)		(2,400	)
Net loss attributable to common stockholders	$	(17,620	)	$	(17,801	)	$	(44,239	)	$	(46,324	)
Denominator
Weighted average basic common shares		86,297,481			57,420,050			79,292,240			45,903,033
Effect of dilutive securities ⁽¹⁾		—			—			—			—
Weighted average diluted common shares		86,297,481			57,420,050			79,292,240			45,903,033
Basic loss per share	$	(0.20	)	$	(0.31	)	$	(0.56	)	$	(1.01	)
Diluted loss per share ⁽¹⁾	$	(0.20	)	$	(0.31	)	$	(0.56	)	$	(1.01	)

(1)

Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. As of July 31, 2018 and 2017, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

	July 31,		July 31,
	2018		2017
May 2017 Offering - Series C Warrants		11,569,364		12,000,000
May 2017 Offering - Series D Warrants		—		10,622,460
July 2016 Offering - Series A Warrants		7,680,000		7,680,000
Outstanding options to purchase common stock		323,533		316,330
Unvested Restricted Stock Awards		1,164,248		2,004,330
Unvested Restricted Stock Units		3,281,744		1,130,015
Series C Preferred Shares to satisfy conversion requirements ⁽¹⁾		6,348,401		—
5% Series B Cumulative Convertible Preferred Stock		454,043		454,043
Series 1 Preferred Shares to satisfy conversion requirements		15,168		15,168
Total potentially dilutive securities		30,836,501		34,222,346

(1)

The number of shares of common stock issuable upon conversion of the Series C Preferred Stock was calculated using the stated value outstanding on July 31, 2018 of $11.7 million (original stated value of $33.5 million less the stated value of conversions to date through July 31, 2018 totaling $21.8 million) divided by the conversion price of $1.84. The actual number of shares issued could vary depending on the actual market price of the Company’s common shares on the date of such conversions. Refer also to Note 19, “Subsequent Events” for information regarding the reduction of the conversion price of the Series C Preferred Stock subsequent to July 31, 2018.