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Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Summary of Computation of Net Income or Loss Per Share

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

 

 

 

For the Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(2,584,320

)

 

$

1,141,255

 

 

$

3,733,707

 

Accretion of dividends on preferred stock

 

 

 

 

 

 

 

 

(1,537,021

)

Net income (loss) attributable to

   common stockholders - basic

 

$

(2,584,320

)

 

$

1,141,255

 

 

$

2,196,686

 

Accretion of dividends on preferred stock

 

 

 

 

 

 

 

 

125,205

 

Adjustment for change in fair value of

    warrant liability

 

 

 

 

 

 

 

 

(460,289

)

Net income (loss) attributable to common

    stockholders - diluted

 

$

(2,584,320

)

 

$

1,141,255

 

 

$

1,861,602

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

9,520,947

 

 

 

9,485,271

 

 

 

3,373,316

 

Diluted

 

 

9,520,947

 

 

 

10,361,373

 

 

 

4,667,503

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.27

)

 

$

0.12

 

 

$

0.65

 

Diluted

 

$

(0.27

)

 

$

0.11

 

 

$

0.40

 

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):

 

 

 

For the Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Preferred redeemable convertible stock, including

   accumulated dividends

 

 

 

 

 

 

 

 

2,406,894

 

Employee stock options

 

 

978,464

 

 

 

513,869

 

 

 

 

Warrants outstanding

 

 

51,003

 

 

 

 

 

 

51,003

 

Total

 

 

1,029,467

 

 

 

513,869

 

 

 

2,457,897