SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2016

NOTE 11SUBSEQUENT EVENTS

Our stockholders approved a reverse stock split at the Company’s annual stockholders’ meeting May 4, 2016. Following this approval, our board of directors authorized a reverse split using a ratio of one share of common stock for every ten shares currently outstanding. Our board set the split to occur on May 31, 2016 with trading on a post-split basis to commence the following day. Share and per share amounts included in this report have not been restated to reflect this stock split because the split will not be effective until after the filing of this report.

Pro forma share and per share information as of and for the three months ended March 31, 2016, giving effect to the one-for-ten reverse stock split, is presented below:

	As of and for the three months ended March 31,
	2016						2015
	As Reported			Pro Forma			As Reported			Pro Forma
Common stock - $0.01 par value. Weighted-average outstanding shares - diluted (in millions)	385.3			38.5			382.1			38.2
Net loss per common share - diluted	$	(0.13	)	$	(1.30	)	$	(0.26	)	$	(2.62	)

The split will also proportionally decrease the number of authorized shares of common stock from 2.0 billion shares to 200 million shares and preferred stock from 200 million to 20 million shares.

The compensation committee of our board approved proportionate adjustments to the number of shares outstanding and available for issuance under our stock-based compensation plans and to the exercise price, grant price or purchase price relating to any award under the plans, using the same reverse split ratio, pursuant to existing authority granted to the committee under the plans.