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Net Income (Loss) Per Common Share (Tables)
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Reconciliation of Numerator and Denominator used in Basic and Diluted Computation of New Loss Per Share
The following is a reconciliation of the numerator and denominator used in the basic and diluted computation of net loss per share:
 
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
(2,854,784
)
 
$
(1,509,446
)
 
$
(6,906,179
)
 
$
(220,332
)
Preferred stock dividends
—

 
(965,164
)
 
—

 
(1,883,996
)
Net income (loss) available to common shareholders
$
(2,854,784
)
 
$
(2,474,610
)
 
$
(6,906,179
)
 
$
(2,104,328
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Basic weighted average shares outstanding
176,737,416

 
82,540,600

 
170,075,960

 
82,515,428

Effect of dilutive securities
—

 
—

 
—

 
—

Diluted weighted average shares outstanding
176,737,416

 
82,540,600

 
170,075,960

 
82,515,428

 
 
 
 
 
 
 
 
Net income (loss) per common share:
 
 
 
 
 
 
 
Basic
$
(0.02
)
 
$
(0.03
)
 
$
(0.04
)
 
$
(0.03
)
Diluted
$
(0.02
)
 
$
(0.03
)
 
$
(0.04
)
 
$
(0.03
)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following table includes the number of common stock equivalent shares that are not included in the computation of diluted income and (loss) per share, because the inclusion of such shares would be anti-dilutive or certain performance conditions have not been achieved.
 
 
June 30,
 
2016
 
2015
Convertible preferred stock
—

 
53,608,855

Stock options and warrants
50,000

 
50,000

Restricted stock
1,444,000

 
1,796,600

 
1,494,000

 
55,455,455