NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2017

6 - NET LOSS PER 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 and the exercise of stock options (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 226,931 and 89,526 nonvested shares outstanding, including RSUs, and the 133,000 and 0 stock options outstanding at December 31, 2017 and 2016, respectively, (refer to Note 18 — Stock-Based Compensation), all are anti-dilutive. The Company’s diluted net loss per share will also reflect the assumed conversion of 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. Of the 0 and 713,122 of unvested MIP Warrants outstanding at December 31, 2017 and 2016, respectively, and 3,936,761 Equity Warrants outstanding at December 31, 2017 and 2016, all are anti-dilutive. The 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. Of the 27,061,856 shares of Series A Preferred Stock outstanding at December 31, 2016, all are anti-dilutive.

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


	Years Ended December 31,
	2017	2016	2015

Common shares outstanding, basic:
Weighted-average common shares outstanding, basic	34,242,631	7,251,231	6,583,163

Common shares outstanding, diluted:
Weighted-average common shares outstanding, basic	34,242,631	7,251,231	6,583,163

Dilutive effect of Series A Preferred Stock	—	—	—

Dilutive effect of warrants	—	—	—

Dilutive effect of stock options	—	—	—

Dilutive effect of restricted stock awards	—	—	—

Weighted-average common shares outstanding, diluted	34,242,631	7,251,231	6,583,163