Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share

v2.4.1.9
Net Loss Per Share
3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
3. Net Loss Per Share
 
Basic net loss per share excludes the effect of dilution and is computed by dividing net loss by the weighted-average number of shares outstanding for the period. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue shares were exercised into shares. In calculating diluted net loss per share, the numerator is adjusted for the change in the fair value of the warrant liability (only if dilutive) and the denominator is increased to include the number of potentially dilutive common shares assumed to be outstanding during the period using the treasury stock method.
 
The following table sets forth the reconciliation of the numerator and denominator used in the computation of basic and diluted net loss per common share for the three months ended March 31, 2015 and 2014: 
 
 
 
Three months ended March 31,
 
(in thousands, except per share amounts)
 
2015
 
2014
 
Numerator:
 
 
 
 
 
 
 
Net loss used for basic earnings per share
 
$
(4,897)
 
$
(1,804)
 
Less change in fair value of warrant liability
 
 
 
 
 
Net loss used for diluted earnings per share
 
$
(4,897)
 
$
(1,804)
 
Denominator:
 
 
 
 
 
 
 
Basic weighted-average outstanding common shares
 
 
110,170
 
 
88,929
 
Effect of dilutive potential common shares resulting from options
 
 
135
 
 
 
Effect of dilutive potential common shares resulting from warrants
 
 
 
 
 
Weighted-average shares outstanding—diluted
 
 
110,305
 
 
88,929
 
Net loss per common share:
 
 
 
 
 
 
 
Basic
 
$
(0.04)
 
$
(0.02)
 
Diluted
 
$
(0.04)
 
$
(0.02)
 
 
The table below presents common shares underlying stock options and warrants that are excluded from the calculation of the weighted average number of common shares outstanding used for the calculation of diluted net loss per common share. These are excluded from the calculation due to their anti-dilutive effect for the three months ended March 31, 2015 and 2014:
 
 
 
Three months ended March
 
 
 
31,
 
(in thousands)
 
2015
 
2014
 
Weighted-average anti-dilutive common shares resulting from options
 
 
6,823
 
 
6,697
 
Weighted-average anti-dilutive common shares resulting from warrants
 
 
3,280
 
 
3,967
 
 
 
 
10,103
 
 
10,664