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Net Loss Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Loss Income Per Common Share

The following table sets forth the computation of basic and diluted loss income per common share:

 

 

 

Three months ended

 

Nine months ended

 

 

September 30,

 

September 30,

(dollars in thousands, except per share amounts)

 

2017

 

2016

 

2017

 

2016

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(259)

 

$

(520)

 

$

(250)

 

$

(3,762)

Adjustment for interest expense on convertible notes (A)

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(259)

 

$

(520)

 

$

(250)

 

$

(3,762)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock outstanding

 

 

7,228,277

 

 

7,206,659

 

 

7,221,426

 

 

7,188,782

Weighted average effect of dilutive stock options and other stock compensation

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares of common stock outstanding, as adjusted

 

 

7,228,277

 

 

7,206,659

 

 

7,221,426

 

 

7,188,782

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share -Basic

 

$

(0.04)

 

$

(0.07)

 

$

(0.03)

 

$

(0.52)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share -Diluted

 

$

(0.04)

 

$

(0.07)

 

$

(0.03)

 

$

(0.52)

 

(A)

An adjustment for interest expense on convertible notes was excluded from the loss per share calculation for the three and nine months ended September 30, 2016 as a result of the convertible notes being antidilutive.   The right to convert all or any portion of the outstanding principal of the Convertible Notes into shares of common stock expired on August 17, 2017.