Three Months Ended

Nine Months Ended

(in thousands, except per share data)

September 30,

2015

2014

2015

2014

Numerator:

Net income (loss) available to common shareholders

$

(1,587

)

$

(2,976

)

$

9,772

$

(12,760

)

Effect of dilutive securities

Derivative liability - warrants

$

-

$

-

$

(1,800

)

$

-

Accretion on convertible preferred stock

-

222

-

Numerator for diluted income (loss) per common share

$

(1,587

)

$

(2,976

)

$

8,194

$

(12,760

)

Denominator:

Weighted average shares used to compute basic income (loss) per common share

27,051

17,780

23,414

17,727

Effect of dilutive securities:

Derivative liability - warrants

-

54

-

Convertible preferred stock

-

2,862

-

Stock options

-

16

-

Denominator for diluted income (loss) per common share

27,051

17,780

26,346

17,727

Basic income (loss) per common share

$

(0.06

)

$

(0.17

)

$

0.42

$

(0.72

)

Diluted income (loss) per common share

$

(0.06

)

$

(0.17

)

$

0.31

$

(0.72

)