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Basic and Diluted Net Loss Per Common Share

9 Months Ended

Sep. 30, 2018

Basic and Diluted Net Loss Per Common Share

Note 9 — Basic and Diluted Net Loss per Common Share

Basic and diluted net loss per share is computed using the weighted average number of shares of common stock outstanding during the period. Common stock equivalents (using the treasury stock and “if converted” method) from stock options, unvested RSAs and RSUs, warrants and convertible preferred stock at September 30, 2018 and 2017 were 9,039,088 and 5,749,080, respectively and are excluded from the calculation of diluted net loss per share because the effect is anti-dilutive. Included in the basic and diluted net loss per share calculation were RSUs awarded to directors that had vested, but the issuance and delivery of the shares are deferred until the director retires from service as a director.

The following table shows the computation of basic and diluted net loss per common share:

	Period from April 27, 2017 (inception) through September 30, 2017			Nine months ended September 30, 2018 (unaudited)
Net loss	$	(4,986	)	$	(9,010	)
Series A Preferred – dividends (accrued and deemed)		(782	)		(2,157	)
Net loss attributable to common stockholders	$	(5,768	)	$	(11,167	)
Weighted average common shares outstanding (basic and diluted)		3,410,987			4,657,900
Net loss per common share (basic and diluted)	$	(1.69	)	$	(2.40	)

	Three months ended September 30, 2017			Three months ended September 30, 2018 (unaudited)
Net loss	$	(2,802	)	$	(2,910	)
Series A Preferred – dividends (accrued and deemed)		(691	)		(729	)
Net loss attributable to common stockholders	$	(3,493	)	$	(3,639	)
Weighted average common shares outstanding basic and diluted)		3,500,272			5,614,892
Net loss per common share (basic and diluted)	$	(1.00	)	$	(0.65	)