NET LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2016

6 — NET LOSS PER COMMON SHARE

The computation of basic net loss per share is based on the weighted-average number of common shares outstanding during the reporting period. The computation of diluted net loss per share assumes the vesting of nonvested stock awards (refer to Note 18 — Stock-Based Compensation), for which the assumed proceeds upon vesting are deemed to be the amount of compensation cost attributable to future services and are not yet recognized using the treasury stock method, to the extent dilutive. Of the 1,352,644 nonvested shares outstanding at March 31, 2016 (refer to Note 18 — Stock-Based Compensation), all are anti-dilutive. Of the 5,704,974 of MIP Warrants and 3,936,761 of equity warrants outstanding at March 31, 2016, all are anti-dilutive. The Company’s diluted net loss per share will also reflect the assumed conversion of the equity warrants issued on the Effective Date and MIP Warrants issued by the Company (refer to Note 18 — Stock-Based Compensation) if the impact is dilutive under the treasury stock method.

The components of the denominator for the calculation of basic and diluted net loss per share are as follows:

	For the Three Month Ended March 31,
	2016	2015

Common shares outstanding, basic:
Weighted-average common shares outstanding, basic	72,187,954	60,430,789


Common shares outstanding, diluted:
Weighted-average common shares outstanding, basic	72,187,954	60,430,789

Dilutive effect of warrants	—	—

Dilutive effect of restricted stock awards	—	—


Weighted-average common shares outstanding, diluted	72,187,954	60,430,789