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Net (Loss) Income per Common Share
 12 Months Ended
Dec. 31, 2015
Net (Loss) Income per Common Share [Abstract]  
Net (Loss) Income per Common Share

5. Net (Loss) Income per Common Share

 

The following table sets forth the computation of basic and diluted net (loss) income per share for the periods indicated (refer to Note 3 – Significant Accounting Policies for more information regarding the December 31, 2014 restatement):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2015

 

Year Ended December 31, 2014

 

Net loss (Numerator)

 

Shares (Denominator)

 

Per share amount

 

Net income (loss) (Numerator)

 

Shares (Denominator)

 

Per share amount

Basic net (loss) income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income and share amounts

$

 (516,000)

 

 

 5,411,204 

 

 

 

 

$

 23,109,000 

 

 

 3,746,639 

 

 

 

Accretion of Series B redeemable convertible preferred stock

 

 (10,278,000)

 

 

 -

 

 

 

 

 

 (1,285,000)

 

 

 -

 

 

 

Net (loss) income attributable to common stockholders

 

 (10,794,000)

 

 

 5,411,204 

 

 

 

 

 

 21,824,000 

 

 

 3,746,639 

 

 

 

Adjustment related to preferred stockholders' participation in the Company's undistributed earnings

 

 -

 

 

 -

 

 

 

 

 

 (6,067,000)

 

 

 -

 

 

 

Basic (loss) income per share - restated for the year ended December 31, 2014

$

 (10,794,000)

 

 

 5,411,204 

 

$

 (1.99)

 

$

 15,757,000 

 

 

 3,746,639 

 

$

 4.21 

Diluted net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accretion of Series B redeemable convertible preferred stock

 

 -

 

 

 -

 

 

 

 

 

 1,285,000 

 

 

 -

 

 

 

Adjustment related to preferred stockholders' participation in the Company's undistributed earnings

 

 -

 

 

 -

 

 

 

 

 

 6,067,000 

 

 

 -

 

 

 

Change in fair value of Series B stock derivative liability

 

 -

 

 

 -

 

 

 

 

 

 (27,760,000)

 

 

 -

 

 

 

Dilutive shares related to Series B

 

 -

 

 

 -

 

 

 

 

 

 -

 

 

 1,748,288 

 

 

 

Change in fair value of warrant liability related to dilutive warrants

 

 -

 

 

 -

 

 

 

 

 

 (9,066,000)

 

 

 -

 

 

 

Dilutive shares related to warrants

 

 -

 

 

 -

 

 

 

 

 

 -

 

 

 391,803 

 

 

 

Net loss attributable to common stockholders - diluted - restated for the year ended December 31, 2014

$

 (10,794,000)

 

 

 5,411,204 

 

$

 (1.99)

 

$

 (13,717,000)

 

 

 5,886,730 

 

$

 (2.33)

 

 

The following outstanding securities at December 31, 2015 and 2014 have been excluded from the computation of diluted weighted shares outstanding for the years ended December 31, 2015 and 2014, as they would have been anti-dilutive:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

 

2014

 

 

2015

 

(restated)

Options

 

 

 669,769 

 

 

 440,695 

Series B redeemable convertible preferred stock

 

 

 7,527,853 

 

 

 -

Warrants

 

 

 656,211 

 

 

 167,711