XML 65 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9
Net loss per common share
 12 Months Ended
Dec. 31, 2014
Net loss per common share

12. Net loss per common share

Basic net loss per share excludes dilution for potentially dilutive securities and is computed by dividing loss by the weighted average number of common shares outstanding during the period excluding the shares loaned under the share lending arrangement (see Note 11). As of December 31, 2014, 2013 and 2012, 9,000,000 shares of the Company’s common stock, which were loaned to a share borrower pursuant to the terms of a share lending agreement, as described in Note 11, were issued and are outstanding, and holders of the borrowed shares have all the rights of a holder of the Company’s common stock. However, because the share borrower must return all borrowed shares to the Company (or, in certain circumstances, the cash value thereof), the borrowed shares are not considered outstanding for the purpose of computing and reporting basic or diluted earnings (loss) per share. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Potentially dilutive securities are excluded from the computation of diluted net loss per share for all of the periods presented in the accompanying statements of operations because the reported net loss in each of these periods results in their inclusion being antidilutive. Antidilutive securities, which consist of stock options, restricted stock units, warrants, and shares that could be issued upon conversion of the senior convertible notes, that are not included in the diluted net loss per share calculation and exclude the 9,000,000 shares of the Company’s common stock loaned under the share lending arrangement as of December 31, 2014, 2013 and 2012.

Potentially dilutive securities outstanding are summarized as follows:

 

     December 31,  
     2014      2013      2012  

Exercise of common stock options

      21,541,664         24,237,940         18,674,539   

Conversion of senior convertible notes into common stock

      17,323,080         25,415,366         19,826,113   

Exercise of common stock warrants

      9,987,876         19,706,240         86,062,440   

Vesting of restricted stock units

      2,610,720         9,115,821         3,761,031   
  

 

 

     

 

 

     

 

 

  
     51,463,340         78,475,367         128,324,123