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Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2014
Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

 

     12 Month
Period Ended
December 31,
2014
     12 Month
Period Ended
December 31,
2013
     12 Month
Period Ended
December 31,
2012
 

Net loss

   $ (26,473,114    $ (10,741,272    $ (18,184,113

Cumulative dividends on Series G Preferred Stock

     —          —          (10,000
  

 

 

    

 

 

    

 

 

 

Numerator, basic and diluted net loss available to stockholders

$ (26,473,114 $ (10,741,272 $ (18,194,113
  

 

 

    

 

 

    

 

 

 

Denominator:

Shares used in computation – basic:

Weighted average common shares outstanding

  84,870,635      80,128,827      73,889,112   
  

 

 

    

 

 

    

 

 

 

Shares used in computation – diluted:

Weighted average common shares outstanding

  84,870,635      80,128,827      73,889,112   
  

 

 

    

 

 

    

 

 

 

Net loss per share – basic and diluted

$ (0.31 $ (0.13 $ (0.25
  

 

 

    

 

 

    

 

 

 

Convertible Preferred Stock Excluded from EPS [Member]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from outstanding Convertible Preferred Stock calculated per the if-converted basis having an anti-dilutive effect on diluted earnings per share were excluded from potential common shares as follows:

 

     2014      2013      2012  

Excluded Convertible Preferred Stock

     32,400         32,400         206,400   
In the Money Potential Common Shares [Member]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares, in the table following, represent potential common shares calculated using the treasury stock method from outstanding options and warrants that were excluded from the calculation of Diluted EPS:

 

     2014      2013      2012  

Average market price during the period

   $ 1.53       $ 2.96       $ 3.20   

In the money potential common shares from options excluded

     —           146,162         275,101   

In the money potential common shares from warrants excluded

     —           92,363         1,129,973   

Out of Money Potential Common Shares [Member]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out-of-the-money options and warrants were also excluded from the computation of diluted earnings per share because calculation of the associated potential common shares has an anti-dilutive effect. The following table lists options and warrants that were excluded from diluted EPS.

 

     2014      2013      2012  

Out of the money options and warrants excluded:

        

Stock Options with an exercise price of $1.74 per share

     51,750         —           —     

Stock Options with an exercise price of $2.20 per share

     969,610         —           —     

Stock Options with an exercise price of $2.73 per share

     644,469         —           —     

Stock Options with an exercise price of $2.74 per share

     633,835         —           —     

Stock Options with an exercise price of $2.89 per share

     983,822         —           —     

Stock Options with an exercise price of $3.25 per share

     100,000         100,000         —     

Stock Options with an exercise price of $3.30 per share

     —           —           100,000   

Stock Options with an exercise price of $3.40 per share

     100,000         100,000         —     

Stock Options with an exercise price of $3.43 per share

     40,000         40,000         —     

Stock Options with an exercise price of $3.50 per share

     100,000         345,000         245,000   

Stock Options with an exercise price of $3.51 per share

     —           —           959,500   

Stock Options with an exercise price of $3.53 per share

     —           —           194,100   

Stock Options with an exercise price of $3.90 per share

     20,000         20,000         20,000   

Stock Options with an exercise price of $4.00 per share

     —           52,500         52,500   

Stock Options with an exercise price of $5.00 per share

     —           —           200,000   

Stock Options with an exercise price of $7.00 per share

     —           —           100,000   

Warrants with an exercise price of $3.60 per share

     1,562,500         1,562,500         1,562,500   

Warrants with an exercise price of $5.25 per share

     —           —           100,000   
  

 

 

    

 

 

    

 

 

 

Total anti-dilutive warrants and options excluded from EPS

  5,205,986      2,220,000      3,533,600   
  

 

 

    

 

 

    

 

 

 

Unvested Restricted Stock Awards Excluded from EPS [Member]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares used in the earning per share calculation due to having an anti-dilutive effect are:

 

     2014      2013      2012  

Excluded unvested restricted stock awards

     529,651         152,026         177,830