General form of registration statement for all companies including face-amount certificate companies

Net Loss Per Share of Common Stock

v3.19.3.a.u2
Net Loss Per Share of Common Stock
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Earnings Per Share [Abstract]    
Net Loss Per Share of Common Stock

Note 8 – Net Loss per Share of Common Stock

 

Basic net loss per share is computed by dividing net loss by the weighted average common shares outstanding. Diluted net loss per share is computed by dividing net loss by the weighted average common shares outstanding, which includes potentially dilutive effect of stock options, warrants and senior convertible notes. Since we experienced a loss for all periods presented, including any dilutive common shares outstanding would have an anti-dilutive impact on diluted net loss per share, and as shown below, were excluded from the computation. The treasury-stock method is used to determine the dilutive effect of our stock options and warrants grants, and the if-converted method is used to determine the dilutive effect of the Senior Notes.

 

The computation of net loss per share for the three and nine months ended September 30, 2019 and 2018 was as follows:

 

   

Three Months Ended

September 30,

   

Nine Months Ended

September 30,

 
    2019     2018     2019     2018  
Basic and diluted net loss per share:                                
Net loss from continuing operations   $ (863,524 )     (852,822 )   $ (2,583,433 )   $ (3,155,874 )
Weighted average number of common
shares-basic and diluted
    38,798,251       38,674,265       38,716,048       36,869,323  
                                 
Basic and diluted net loss per share   $ (0.02 )   $ (0.02 )   $ (0.07 )   $ (0.09 )

 

The following potentially dilutive securities were excluded from the computation of diluted net income per share as their effect would have been anti-dilutive for the periods presented.

 

    September 30, 2019     December 31, 2018  
Stock options and purchase warrants     4,636,682       3,997,187  
Senior convertible notes and related accrued interest     -       122,717  

Note 10 – Net Loss per Share of Common Stock

 

Basic net loss per share is computed by dividing net loss by the weighted average common shares outstanding. Diluted net loss per share is computed by dividing net loss by the weighted average common shares outstanding without the impact of potential dilutive common shares outstanding because they would have an anti-dilutive impact on diluted net loss per share. The treasury-stock method is used to determine the dilutive effect of our stock options and warrants grants, and the if-converted method is used to determine the dilutive effect of the Senior Notes.

 

The computation of net loss per share for the year ended December 31, 2018 and 2017 was as follows:

 

    2018     2017  
Basic and diluted net loss per share:                
Net loss   $ (3,765,047 )   $ (1,856,315 )
Weighted-average number of common shares-basic and diluted     37,324,267       32,595,680  
                 
Basic and diluted net loss per share   $ (0.10 )   $ (0.06 )

 

The outstanding options and warrants to purchase common stock and the shares issuable under the Senior Notes were excluded from the computation of diluted net income per share as their effect would have been anti-dilutive for the periods are presented below:

 

    2018     2017  
Stock options and purchase warrants     3,917,763       -  
Senior convertible notes     112,580       1,262,849