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Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Summary of Computation of Net Income or Loss Per Share

The following table presents the computation of net income or loss per share:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(70,121

)

 

$

1,311,209

 

 

$

314,970

 

 

$

1,450,361

 

Accretion of dividends on preferred stock

 

 

 

 

 

(610,781

)

 

 

 

 

 

(1,214,850

)

Net income (loss) attributable to common stockholders - basic

 

$

(70,121

)

 

$

700,428

 

 

$

314,970

 

 

$

235,511

 

Accretion of dividends on preferred stock

 

 

 

 

 

354,270

 

 

 

 

 

 

 

Adjustment for change in fair value of warrant liability

 

 

 

 

 

(381,455

)

 

 

 

 

 

(460,289

)

Net income (loss) attributable to common stockholders - diluted

 

$

(70,121

)

 

$

673,243

 

 

$

314,970

 

 

$

(224,778

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

9,520,285

 

 

 

724,979

 

 

 

9,440,368

 

 

 

695,415

 

Diluted

 

 

9,520,285

 

 

 

4,479,505

 

 

 

10,120,998

 

 

 

695,415

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.01

)

 

$

0.97

 

 

$

0.03

 

 

$

0.34

 

Diluted

 

$

(0.01

)

 

$

0.15

 

 

$

0.03

 

 

$

(0.32

)

 

Summary of Potentially Dilutive Securities

Potentially dilutive securities not included in the calculation of diluted net income (loss) per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Preferred redeemable convertible stock, including accumulated

   dividends

 

 

 

 

 

3,858,113

 

 

 

 

 

 

4,998,688

 

Employee stock options

 

 

384,538

 

 

 

952,940

 

 

 

366,732

 

 

 

1,371,666

 

Total

 

 

384,538

 

 

 

4,811,053

 

 

 

366,732

 

 

 

6,370,354