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
Sep. 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

September 30,

For the nine months

ended

September 30,

For the period

from March 29,

2011 (date of inception)

through

September 30,

 

2013

2012

2013

2012

2013

Net Loss

$ (718,840)

$ (601,882)

$ (2,261,776)

$ (1,657,598)

$ (5,643,411)

Basic and diluted:

 

 

 

 

 

Preferred stock cumulative dividend - Series A

--

10,054

--

29,944

--

Preferred stock cumulative dividend - Series B

8,551

60,328

25,373

179,672

65,988

Preferred stock cumulative dividend - Series C

4,073

19,323

12,087

19,323

18,595

Preferred stock cumulative dividend - Series D

201,136

--

201,136

--

201,136

Net income available to preferred stockholders

213,760

89,705

238,596

228,939

285,719

Net loss attributable to common stockholders

$ (932,600)

$ (691,587)

$ (2,500,372)

$ (1,886,537)

$ (5,929,130)