Loss Per Share

6 Months Ended

Apr. 30, 2019

Note 13. Loss Per Share

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

	Three Months Ended April 30,						Six Months Ended April 30,
	2019			2018			2019			2018
Numerator
Net loss	$	(19,530	)	$	(13,174	)	$	(37,078	)	$	(17,357	)
Series A warrant exchange		(3,169	)		—			(3,169	)		—
Series B preferred stock dividends		(800	)		(800	)		(1,600	)		(1,600	)
Series C preferred stock deemed contributions (dividends) and redemption value adjustment, net		1,599			(4,199	)		(7,406	)		(7,662	)
Series D Preferred stock deemed dividends and redemption accretion		(976	)		—			(6,661	)		—
Net loss attributable to common stockholders	$	(22,876	)	$	(18,173	)	$	(55,914	)	$	(26,619	)
Denominator
Weighted average basic common shares		11,090,698			6,630,272			9,683,253			6,310,964
Effect of dilutive securities ⁽¹⁾		—			—			—			—
Weighted average diluted common shares		11,090,698			6,630,272			9,683,253			6,310,964
Basic loss per share	$	(2.06	)	$	(2.74	)	$	(5.77	)	$	(4.22	)
Diluted loss per share ⁽¹⁾	$	(2.06	)	$	(2.74	)	$	(5.77	)	$	(4.22	)

(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 April 30, 2019 and 2018, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

	April 30,		April 30,
	2019		2018
May 2017 Offering - Series C Warrants		964,114		964,114
July 2016 Offering - Series A Warrants		—		640,000
Outstanding options to purchase common stock		24,945		27,324
Unvested Restricted Stock Awards		32,659		98,788
Unvested Restricted Stock Units		212,034		258,737
Series C Preferred Shares to satisfy conversion requirements ⁽¹⁾		313,589		658,899
Series D Preferred Shares to satisfy conversion requirements ⁽²⁾		1,114,890		—
5% Series B Cumulative Convertible Preferred Stock		37,837		37,837
Series 1 Preferred Shares to satisfy conversion requirements		1,264		1,264
Total potentially dilutive securities		2,701,332		2,686,963

(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 April 30, 2019 of $1.6 million divided by the reduced conversion price of $5.16 and the liquidation preference of $14.5 million divided by the conversion price of $22.08 as of April 30, 2018. 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 April 30, 2019 of $18.5 million divided by the conversion price of $16.56. 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.