Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Computation of Basic and Diluted Income (Loss) Per Common Share

Basic and diluted income (loss) per common share is computed as follows:


	Three Months Ended March 31,
	2014			2013

Net income (loss)	$	(3,108,335	)	$	(3,365,901	)
Less: undistributed earnings allocated to participating securities		—			—

Net income (loss) allocable to common shares	$	(3,108,335	)	$	(3,365,901	)

Basic weighted average common shares outstanding		26,262,356			1,148,694
Basic income (loss) per common share	$	(0.12	)	$	(2.93	)

Net income (loss)	$	(3,108,335	)	$	(3,365,901	)
Less: undistributed earnings allocated to participating securities and other add-backs to net income (loss)		—			—

Net income (loss) allocable to common shares	$	(3,108,335	)	$	(3,365,901	)

Basic weighted average common shares outstanding		26,262,356			1,148,694
Effect of dilutive securities		—			—

Diluted weighted average common shares outstanding		26,262,356			1,148,694

Diluted income (loss) per common share	$	(0.12	)	$	(2.93	)

Schedule of Dilutive Securities Used In Calculation of Diluted Earnings Per Share

The following common stock equivalents were excluded from the calculation of diluted loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	Three Months Ended March 31,
	2014		2013
Series A-1 Preferred Stock		—		2,156,114
Series A-2 Preferred Stock		—		392,274
Series B Preferred Stock		—		4,336,037
Series C Preferred Stock		—		5,909,906
Series D Preferred Stock		—		769,468
Series D-2 Preferred Stock		—		3,391,991
Warrants to purchase Series D-2 Preferred Stock		—		180,784
Stock Options		2,719,339		322,223