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NET LOSS PER COMMON SHARE | 12 Months Ended
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Dec. 31, 2016
NET LOSS PER COMMON SHARE |
NET LOSS PER COMMON SHARE | 7 - 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 23 — 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 89,526 nonvested shares outstanding, including RSUs, at December 31, 2016 for the Successor Company (refer to Note 23 — Stock-Based Compensation), all are anti-dilutive. Of the 713,122 MIP Warrants and 3,936,761 Equity Warrants outstanding at December 31, 2016, all are anti-dilutive. The Successor Company’s diluted net loss per share will also reflect the assumed conversion of the Equity Warrants (refer to Note 1 — General Information) and MIP Warrants issued by the Successor Company (refer to Note 23 — Stock-Based Compensation) if the impact is dilutive under the treasury stock method. Of the 27,061,856 shares of Series A Preferred Stock outstanding at December 31, 2016, all are anti-dilutive. The Successor Company’s diluted net loss per share will also reflect the assumed conversion of the shares of Series A Preferred Stock (refer to Note 1 — General Information) if the impact is dilutive. The Predecessor Company’s diluted net loss per share also reflected the assumed conversion under the Predecessor Company’s convertible debt if the impact was dilutive under the “if converted” method. The impact of the shares convertible under the Predecessor Company’s convertible notes was excluded from the computation of diluted net loss per share when interest expense per common share obtainable upon conversion was greater than basic earnings per share. On July 7, 2016, the Company completed a one-for-ten reverse stock split of its common stock. As a result, all share and per share information included for all periods presented for the Successor Company in these consolidated financial statements reflect the reverse stock split. The components of the denominator for the calculation of basic net loss per share and diluted net loss per share are as follows:
|  | Successor |  |  | Predecessor |
|  | Year |  | Year |  | Period from |  |  | Period from |
|  | Ended |  | Ended |  | July 9 to |  |  | January 1 to |
|  | December 31, |  | December 31, |  | December 31, |  |  | July 9, |
|  | 2016 |  | 2015 |  | 2014 |  |  | 2014 |
Common shares outstanding, basic: |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic |  | 7,251,231 |  | 6,583,163 |  | 6,036,051 |  |  | 43,568,942 |
Common shares outstanding, diluted: |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic |  | 7,251,231 |  | 6,583,163 |  | 6,036,051 |  |  | 43,568,942 |
Dilutive effect of Series A Preferred Stock |  | — |  | — |  | — |  |  | — |
Dilutive effect of warrants |  | — |  | — |  | — |  |  | — |
Dilutive effect of convertible notes |  | — |  | — |  | — |  |  | — |
Dilutive effect of restricted stock awards |  | — |  | — |  | — |  |  | — |
Weighted-average common shares outstanding, diluted |  | 7,251,231 |  | 6,583,163 |  | 6,036,051 |  |  | 43,568,942 |
The following table sets forth a reconciliation of the net loss attributable to GS&T and the net loss attributable to GS&T for diluted net loss per share under the “if-converted” method:
|  | Successor |  |  | Predecessor |
|  | Year |  | Year |  | Period from |  |  | Period from |
|  | Ended |  | Ended |  | July 9 to |  |  | January 1 to |
|  | December 31, |  | December 31, |  | December 31, |  |  | July 9, |
|  | 2016 |  | 2015 |  | 2014 |  |  | 2014 |
Net loss attributable to GS&T |  | $ | (217,757) |  | $ | (194,897) |  | $ | (182,294) |  |  | $ | (951,149) |
Interest expense related to convertible notes, if dilutive |  |  | — |  |  | — |  |  | — |  |  |  | — |
Net loss attributable to GS&T for the computation of diluted net loss per share |  | $ | (217,757) |  | $ | (194,897) |  | $ | (182,294) |  |  | $ | (951,149) |

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