| Basic and Diluted Net Income (Loss) Per Common Share |
2. Basic and Diluted Net Income (Loss) per
Common Share
Basic net income (loss) per share is calculated
by dividing the net income (loss) by the weighted-average number of common shares outstanding for the period, without consideration
for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the weighted-average number
of common share equivalents outstanding for the period that are determined to be dilutive. Common stock equivalents are primarily
comprised of preferred stock and warrants for the purchase of common stock. For the three months ended September 30, 2020, there
is no difference in the number of shares and net loss used to calculate basic and diluted shares outstanding because their effect
would have been anti-dilutive. The Company had potentially dilutive securities, totaling approximately 1.6 million and 0.5
million as of September 30, 2020 and 2019, respectively.
Below are basic and diluted loss per
share data for the three months ended September 30, 2020, which are in thousands except for share and per share data:
| |
|
Basic
Calculation |
|
|
Effect of
Dilutive
Warrant
Securities
|
|
|
Diluted
Calculation |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(2,437 |
) |
|
$ |
- |
|
|
$ |
(2,437 |
) |
| Deemed dividend and accretion of a discount |
|
|
(74 |
) |
|
|
- |
|
|
|
(74 |
) |
| Net loss attributable to common stockholders |
|
$ |
(2,511 |
) |
|
$ |
- |
|
|
$ |
(2,511 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares used in per common share calculations: |
|
|
22,774,263 |
|
|
|
- |
|
|
|
22,774,263 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(0.11 |
) |
|
$ |
- |
|
|
$ |
(0.11 |
) |
| Deemed dividend and accretion of a discount |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net loss attributable to common stockholders |
|
$ |
(0.11 |
) |
|
$ |
- |
|
|
$ |
(0.11 |
) |
Below are basic and diluted loss per
share data for the nine months ended September 30, 2020, which are in thousands except for share and per share data:
| |
|
Basic
Calculation |
|
|
Effect of
Dilutive
Warrant
Securities
|
|
|
Diluted
Calculation |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(5,296 |
) |
|
$ |
(2,073 |
) |
|
$ |
(7,369 |
) |
| Deemed dividend and accretion of a discount |
|
|
(9,565 |
) |
|
|
- |
|
|
|
(9,565 |
) |
| Net loss attributable to common stockholders |
|
$ |
(14,861 |
) |
|
$ |
(2,073 |
) |
|
$ |
(16,934 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares used in per common share calculations: |
|
|
13,671,866 |
|
|
|
1,422,410 |
|
|
|
15,094,276 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(0.39 |
) |
|
$ |
(0.10 |
) |
|
$ |
(0.49 |
) |
| Deemed dividend and accretion of a discount |
|
|
(0.70 |
) |
|
|
0.07 |
|
|
|
(0.63 |
) |
| Net income (loss) attributable to common stockholders |
|
$ |
(1.09 |
) |
|
$ |
(0.03 |
) |
|
$ |
(1.12 |
) |
Below are basic and diluted loss per
share data for the three months ended September 30, 2019, which are in thousands except for share and per share data:
| |
|
Basic
Calculation |
|
|
Effect of
Dilutive
Warrant
Securities
|
|
|
Diluted
Calculation |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(1,446 |
) |
|
$ |
(144 |
) |
|
$ |
(1,590 |
) |
| Deemed dividend and accretion of a discount |
|
|
(345 |
) |
|
|
- |
|
|
|
(345 |
) |
| Net loss attributable to common stockholders |
|
$ |
(1,791 |
) |
|
$ |
(144 |
) |
|
$ |
(1,935 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares used in per common share calculations: |
|
|
2,127,293 |
|
|
|
- |
|
|
|
2,127,293 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(0.68 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.75 |
) |
| Deemed dividend and accretion of a discount |
|
|
(0.16 |
) |
|
|
- |
|
|
|
(0.16 |
) |
| Net loss attributable to common stockholders |
|
$ |
(0.84 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.91 |
) |
Below are basic and diluted loss per
share data for the nine months ended September 30, 2019, which are in thousands except for share and per share data:
| |
|
Basic
Calculation |
|
|
Effect of
Dilutive
Warrant
Securities
|
|
|
Diluted
Calculation |
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(3,805 |
) |
|
$ |
(753 |
) |
|
$ |
(4,558 |
) |
| Deemed dividend and accretion of a discount |
|
|
(2,703 |
) |
|
|
- |
|
|
|
(2,703 |
) |
| Net loss attributable to common stockholders |
|
$ |
(6,508 |
) |
|
$ |
(753 |
) |
|
$ |
(7,261 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Number of shares used in per common share calculations: |
|
|
1,269,106 |
|
|
|
- |
|
|
|
1,269,106 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss |
|
$ |
(3.00 |
) |
|
$ |
(0.59 |
) |
|
$ |
(3.59 |
) |
| Deemed dividend and accretion of a discount |
|
|
(2.13 |
) |
|
|
- |
|
|
|
(2.13 |
) |
| Net loss attributable to common stockholders |
|
$ |
(5.13 |
) |
|
$ |
(0.59 |
) |
|
$ |
(5.72 |
) |
|