Loss Per Share

12 Months Ended

Oct. 31, 2020

Note 20. Loss Per Share

Basic earnings (loss) per common share (“EPS”) are generally calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding. Diluted EPS is generally calculated as income (loss) available to common stockholders divided by the weighted average number of common shares outstanding plus the dilutive effect of common share equivalents.

The calculation of basic and diluted EPS for the years ended October 31, 2020, 2019 and 2018 was as follows (amounts in thousands, except share and per share amounts):

	2020			2019			2018
Numerator
Net loss	$	(89,107	)	$	(77,568	)	$	(47,334	)
Series A warrant exchange		—			(3,169	)		—
Series B Preferred stock dividends		(3,331	)		(3,231	)		(3,200	)
Series C Preferred stock deemed dividends and redemption value adjustments, net		—			(6,522	)		(9,559	)
Series D Preferred stock deemed dividends and redemption accretion		—			(9,755	)		(2,075	)
Net loss attributable to common stockholders	$	(92,438	)	$	(100,245	)	$	(62,168	)
Denominator
Weighted average common shares outstanding - basic		221,960,288			55,081,266			6,896,189
Effect of dilutive securities ⁽¹⁾		—			—			—
Weighted average common shares outstanding - diluted		221,960,288			55,081,266			6,896,189
Net loss to common stockholders per share - basic	$	(0.42	)	$	(1.82	)	$	(9.01	)
Net loss to common stockholders per share - diluted ⁽¹⁾	$	(0.42	)	$	(1.82	)	$	(9.01	)

(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, 2020, 2019 and 2018, potentially dilutive securities excluded from the diluted loss per share calculation are as follows:

	October 31, 2020		October 31, 2019		October 31, 2018
Orion Warrants		2,700,000		6,000,000		—
May 2017 Offering – Series C Warrants		964,114		964,114		964,114
July 2016 Offering – Series A Warrants		—		—		640,000
Outstanding options to purchase common stock		23,891		24,927		26,958
Unvested Restricted Stock Awards		538		24,574		93,286
Unvested Restricted Stock Units		2,066,602		166,541		270,929
Series C Preferred Shares to satisfy conversion requirements		—		—		499,556
Series D Preferred Shares to satisfy conversion requirements		—		—		1,852,657
5% Series B Cumulative Convertible Preferred Stock		37,837		37,837		37,837
Series 1 Preferred Shares to satisfy conversion requirements		—		1,264		1,264
Total potentially dilutive securities		5,792,982		7,219,257		4,386,601