8. NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCK

Net loss per share attributable to common stock is calculated using the two-class method. The two-class method is an allocation method of calculating loss per share when a company’s capital structure includes participating securities that have rights to undistributed earnings. Historically, the Company’s employees and officers that held unvested restricted stock were entitled to dividends when the Company paid dividends (“participating”). The Company’s employees and officers that hold unvested restricted stock awarded during 2016 are not entitled to dividends when the Company pays dividends (“non-participating”). The Company’s basic net loss per share attributable to common stock is computed by reducing the Company’s net loss by the net income allocable to unvested restricted stockholders that have a right to participate in earnings. The Company’s employees and officers that hold unvested restricted stock do not participate in losses because they are not contractually obligated to do so. The undistributed earnings are allocated based on the relative percentage of the weighted average unvested participating restricted stock awards. The basic net loss per share attributable to common stock is computed by dividing the net loss attributable to common stock by the weighted average shares outstanding. The weighted average shares outstanding for the six months ended June 30, 2015 was calculated by totaling (i) the product of (x) the weighted shares of Legacy Dawson Common Stock outstanding at the beginning of the year multiplied by (y) the Exchange Ratio, plus (ii) the number of shares associated with awards of Legacy Dawson restricted stock and restricted stock units that vested in conjunction with the Merger, weighted as of February 11, 2015, plus (iii) the number of shares of Legacy TGC Common Stock outstanding immediately prior to the Merger, weighted to reflect that such shares were outstanding from February 11, 2015 until the end of the period. The Company’s dilutive net loss per share attributable to common stock is computed by adjusting basic net loss per share attributable to common stock by diluted income allocable to unvested participating restricted stock, if any, divided by weighted average diluted shares outstanding.

A reconciliation of the net loss per share attributable to common stock is as follows:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
	(in 000’s)						(in 000’s)
Net loss	$	(11,589	)	$	(11,877	)	$	(20,189	)	$	(18,469	)
Income allocable to unvested restricted stock	—			—			—			—

Basic loss attributable to common stock	$	(11,589	)	$	(11,877	)	$	(20,189	)	$	(18,469	)

Reallocation of participating earnings	—			—			—			—

Diluted loss attributable to common stock	$	(11,589	)	$	(11,877	)	$	(20,189	)	$	(18,469	)

Weighted average common shares outstanding:
Basic	21,605,262			21,525,952			21,593,317			19,783,724
Dilutive common stock options and restricted stock units	—			—			—			—

Diluted	21,605,262			21,525,952			21,593,317			19,783,724

Basic loss attributable to a share of common stock	$	(0.54	)	$	(0.55	)	$	(0.93	)	$	(0.93	)

Diluted loss attributable to a share of common stock	$	(0.54	)	$	(0.55	)	$	(0.93	)	$	(0.93	)

The Company had a net loss in each of the three and six months ended June 30, 2016 and 2015. As a result, all stock options, restricted stock units, and non-participating restricted stock awards were anti-dilutive and excluded from weighted average shares used in determining the diluted loss attributable to a share of common stock for the respective periods.

The following weighted average numbers of stock options, restricted stock units, and non-participating restricted stock awards have been excluded from the calculation of diluted loss per share attributable to common stock, as their effect would be anti-dilutive for each of the three and six months ended June 30, 2016 and 2015:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2016	2015	2016	2015
Stock options	416,245	426,854	419,934	426,854
Restricted stock units	301,142	122,104	263,977	123,900
Non-participating restricted stock awards	87,000	—	65,489	—

Total	804,387	548,958	749,400	550,754

There were no shares of participating restricted stock at June 30, 2016 and 2015 included in common stock outstanding.