Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share

v2.4.0.8
Net Loss Per Common Share
 3 Months Ended
Jun. 30, 2013
Notes  
Net Loss Per Common Share

7.  NET LOSS PER COMMON SHARE:

 

The Company computes loss per share of common stock using the two-class method required for participating securities.  Our participating securities include all series of our convertible preferred stock.  Undistributed earnings allocated to these participating securities are added to net loss in determining net loss attributable to common stockholders.  Basic and Diluted loss per share are computed by dividing net loss attributable to common stockholder by the weighted-average number of shares of common stock outstanding. 

 

Outstanding options were not included in the computation of diluted loss per share because the options' exercise price was greater than the average market price of the common shares and, therefore, the effect would be anti-dilutive. 

 

The calculation of the numerator and denominator for basic and diluted net loss per common share is as follows:

 

 

For the three months

ended

June 30,

For the six months

ended

June 30,

For the period

from March 29,

2011 (date of inception)

through

June 30,

 

2013

2012

2013

2012

2013

Net Loss

$ (726,571)

$ (475,079)

$ (1,542,936)

$ (1,055,716)

$ (4,924,571)

Basic and diluted:

 

 

 

 

 

Preferred stock cumulative dividend - Series A

715

9,945

1,421

19,890

6,338

Preferred stock cumulative dividend - Series B

27,868

59,672

55,429

119,344

189,254

Preferred stock cumulative dividend - Series C

13,204

-

26,262

-

47,591

Net income available to preferred stockholders

41,787

69,617

83,112

139,234

243,183

Net loss attributable to common stockholders

(768,358)

(544,696)

(1,626,048)

(1,194,950)

(5,167,754)