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Net Loss per Common Share (Tables)
 6 Months Ended
Jun. 30, 2016
Net Loss per Common Share [Abstract]  
Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net loss per share for the periods indicated:







 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 



 

Three Months Ended

 

Six Months Ended



 

June 30,

 

June 30,



 

2016

 

2015

 

2016

 

2015

Basic and diluted net loss per common share calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

 (3,851,000)

 

$

 10,769,000 

 

$

 (6,963,000)

 

$

 (3,724,000)

Excess of fair value of consideration transferred on conversion of Series B Preferred stock

 

 

 (2,366,000)

 

 

 -

 

 

 (2,366,000)

 

 

 -

Accretion of Series B redeemable convertible preferred stock

 

 

 (133,000)

 

 

 (1,828,000)

 

 

 (1,858,000)

 

 

 (2,166,000)

Net (loss) income attributable to common stockholders

 

$

 (6,350,000)

 

$

 8,941,000 

 

$

 (11,187,000)

 

$

 (5,890,000)

Weighted average common shares outstanding - basic

 

 

 8,740,621 

 

 

 5,667,170 

 

 

 7,312,062 

 

 

 4,960,416 

Net loss per share of common stock - basic

 

$

 (0.73)

 

$

 1.27 

 

$

 (1.53)

 

$

 (1.19)

Weighted average common shares outstanding - diluted

 

 

 8,768,059 

 

 

 7,545,487 

 

 

 7,325,781 

 

 

 4,960,416 

Net loss per share of common stock - diluted

 

$

 (0.78)

 

$

 (0.33)

 

$

 (1.60)

 

$

 (1.19)



Antidilutive Securities Excluded from Computation of Diluted Weighted Shares Outstanding

The numerator for the diluted loss per share for the three and six months ended June 30, 2016, has been increased by $506,000 due to a gain associated with the Company’s June 2016 offering warrant liability.



The numerator for the basic loss per share for the three months ended June 30, 2015, has been decreased by $1,716,000 due to amounts related to preferred stockholders’ participation in the Company’s undistributed earnings. The numerator for the diluted loss per share for the three months ended June 30, 2015 has been decreased by $1,716,000 noted above and also decreased by $9,707,000 due to gains associated with certain warrants and preferred stock derivatives.  



The following outstanding securities at June 30, 2016 and 2015 have been excluded from the computation of diluted weighted shares outstanding for the six months ended June 30, 2016 and 2015, as they would have been anti-dilutive:







 

 

 

 

 

 



 

 

 

 

 

 



 

June 30,



 

2016

 

 

2015

Options

 

 

 739,021 

 

 

 360,635 

Warrants

 

 

 2,443,479 

 

 

 1,209,650 

Series B redeemable convertible preferred stock

 

 

 -

 

 

 1,658,071 

Total

 

 

 3,182,500 

 

 

 3,228,356