| Loss Per Share |
Note 15. 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, |
|
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
Numerator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(5,311 |
) |
|
$ |
(15,881 |
) |
|
$ |
(42,389 |
) |
|
$ |
(33,238 |
) |
|
Series A warrant exchange |
|
|
— |
|
|
|
— |
|
|
|
(3,169 |
) |
|
|
— |
|
|
Series B preferred stock dividends |
|
|
(810 |
) |
|
|
(800 |
) |
|
|
(2,410 |
) |
|
|
(2,400 |
) |
|
Series C preferred stock deemed contributions
(dividends) and redemption value adjustment,
net |
|
|
884 |
|
|
|
(939 |
) |
|
|
(6,522 |
) |
|
|
(8,601 |
) |
|
Series D Preferred stock deemed dividends and
redemption accretion |
|
|
(3,091 |
) |
|
|
— |
|
|
|
(9,752 |
) |
|
|
— |
|
|
Net loss attributable to common stockholders |
|
$ |
(8,328 |
) |
|
$ |
(17,620 |
) |
|
$ |
(64,242 |
) |
|
$ |
(44,239 |
) |
|
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average basic common shares |
|
|
45,069,911 |
|
|
|
7,191,457 |
|
|
|
21,608,427 |
|
|
|
6,607,687 |
|
|
Effect of dilutive securities (1) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Weighted average diluted common shares |
|
|
45,069,911 |
|
|
|
7,191,457 |
|
|
|
21,608,427 |
|
|
|
6,607,687 |
|
|
Basic loss per share |
|
$ |
(0.18 |
) |
|
$ |
(2.45 |
) |
|
$ |
(2.97 |
) |
|
$ |
(6.70 |
) |
|
Diluted loss per share (1) |
|
$ |
(0.18 |
) |
|
$ |
(2.45 |
) |
|
$ |
(2.97 |
) |
|
$ |
(6.70 |
) |
|
(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, 2019 and 2018, potentially dilutive securities excluded from the diluted loss per share calculation are as follows: |
|
|
|
July 31, |
|
|
July 31, |
|
|
|
|
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 |
|
|
24,927 |
|
|
|
26,961 |
|
|
Unvested Restricted Stock Awards |
|
|
28,549 |
|
|
|
97,021 |
|
|
Unvested Restricted Stock Units |
|
|
168,553 |
|
|
|
273,479 |
|
|
Series C Preferred Shares to satisfy conversion requirements (1) |
|
|
— |
|
|
|
529,033 |
|
|
Series D Preferred Shares to satisfy conversion requirements (2) |
|
|
1,509 |
|
|
|
— |
|
|
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 |
|
|
1,226,753 |
|
|
|
2,569,709 |
|
|
(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 July 31, 2018 of $11.7 million divided by the reduced conversion price of $22.08. All Series C Preferred Stock was converted prior to July 31, 2019. |
|
(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 July 31, 2019 of $25.0 thousand 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. |
|