Earnings Per Share (Tables)

12 Months Ended

Oct. 31, 2018

Calculation of Basic and Diluted Loss Per Share

The calculation of basic and diluted EPS for the years ended October 31, 2018, 2017 and 2016 was as follows (amounts in thousands, except share and per share amounts):

	2018			2017			2016
Numerator
Net loss	$	(47,334	)	$	(53,903	)	$	(51,208	)
Net loss attributable to noncontrolling interest		—			—			251
Series B Preferred stock dividends		(3,200	)		(3,200	)		(3,200	)
Series C Preferred stock deemed dividends		(9,559	)		—			—
Series D Preferred stock redemption accretion		(2,075	)		—			—
Net loss to common stockholders	$	(62,168	)	$	(57,103	)	$	(54,157	)
Denominator
Weighted average common shares outstanding - basic		82,754,268			49,914,904			29,773,700
Effect of dilutive securities ⁽¹⁾		—			—			—
Weighted average common shares outstanding - diluted		82,754,268			49,914,904			29,773,700
Net loss to common stockholders per share - basic	$	(0.75	)	$	(1.14	)	$	(1.82	)
Net loss to common stockholders per share - diluted ⁽¹⁾	$	(0.75	)	$	(1.14	)	$	(1.82	)

(1)

Due to the net loss to common stockholders in each of the years presented above, diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. As of October 31, 2018, 2017 and 2016, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

Schedule of Potentially Dilutive Securities Excluded from the Diluted Loss Per Share Calculation

As of October 31, 2018, 2017 and 2016, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

	October 31, 2018		October 31, 2017		October 31, 2016
May 2017 Offering – Series C Warrants		11,569,364		11,580,900		—
May 2017 Offering – Series D Warrants		-		2,584,174		—
July 2016 Offering - Series A Warrants		7,680,000		7,680,000		7,680,000
July 2016 Offering - Series B Warrants		—		—		3,826,000
July 2014 Offering - NRG Warrants		—		—		166,666
Outstanding options to purchase common stock		323,486		309,950		246,923
Unvested RSAs		1,119,433		1,898,692		915,831
Unvested RSUs		3,251,142		1,109,994		74,204
Series C Preferred Shares to satisfy conversion requirements⁽¹⁾		5,994,667		18,097,826		—
Series D Preferred Shares to satisfy conversion requirements⁽²⁾		22,231,884		—		—
5% Series B Cumulative Convertible Preferred Stock ⁽³⁾		454,043		454,043		454,043
Series 1 Preferred Shares to satisfy conversion requirements⁽³⁾		15,168		15,168		15,168
Total potentially dilutive securities		52,639,187		43,730,747		13,378,835

(1)

The number of shares of common stock issuable upon conversion of the Series C Preferred Stock was calculated using the liquidation preference value outstanding on October 31, 2018 of $9.0 million divided by the reduced conversion price of $1.50 and the liquidation preference of $33.3 million divided by the conversion price of $1.84 as of October 31, 2017. 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.

(2)

The number of shares of common stock issuable upon conversion of the Series D Preferred Stock was calculated using the liquidation preference value outstanding on October 31, 2018 of $30.7 million divided by the conversion price of $1.38. 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.

(3)	Refer to Note 14, Redeemable Preferred Stock, for information on the calculation of the common shares upon conversion.