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Net Loss Per Share | 3 Months Ended
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Mar. 31, 2014
Earnings Per Share [Abstract] |
Net Loss Per Share |
10. | Net Loss Per Share
The Company uses the two-class method to compute net loss per share because the Company has issued securities, other than common stock, that contractually entitle the holders to participate in dividends and earnings of the Company. Under the two-class method, for periods with net income, basic net income per common share is computed by dividing the net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Net income attributable to common stockholders is computed by subtracting from net income the portion of current year earnings that the participating securities would have been entitled to receive pursuant to their dividend rights had all of the year’s earnings been distributed. No such adjustment to earnings is made during periods with a net loss, as the holders of the participating securities have no obligation to fund losses. Diluted net loss per common share is computed under the two-class method by using the weighted average number of shares of common stock outstanding, plus, for periods with net income attributable to common stockholders, the potential dilutive effects of stock options and warrants. In addition, the Company analyzes the potential dilutive effect of the outstanding participating securities when calculating diluted earnings per share. Under the “treasury stock” method, it is assumed that the warrants and options were exercised at the beginning of the period and that the funds obtained from the exercise were used to reacquire the Company’s common stock at the average market price for the period. Under the “if-converted” method, it is assumed that the outstanding participating securities convert into common stock at the beginning of the period. The Company reports the more dilutive of the approaches as its diluted net income per share during the period. The following table summarizes the computation of basic and diluted net loss per share attributable to the Company’s common stockholders:
|  | Three months ended March 31, |
|  | 2014 |  |  | 2013 |
Net Income/(loss) |  | $ | 412 |  |  | $ | (2,069 | )
Deemed dividend for beneficial conversion feature on Series D-2 Preferred |  |  | (909 | ) |  |  | — |
Deemed dividend for antidilution adjustments to convertible preferred stock |  |  | (214 | ) |  |  | — |
Accretion of convertible preferred stock |  |  | (510 | ) |  |  | — |
Net loss attributable to common stock - basic |  | $ | (1,221 | ) |  | $ | (2,069 | )
Derivative fair value adjustment |  |  | (2,783 | ) |  |  | — |
Net loss attributable to common stock - diluted |  | $ | (4,004 | ) |  | $ | (2,069 | )
Weighted-average common shares outstanding - basic |  |  | 334,086 |  |  |  | 335,782 |
Allocation of common stock warrants as participating securities |  |  | 274,988 |  |  |  | — |
Weighted-average of outstanding common stock - diluted |  |  | 609,075 |  |  |  | 335,782 |
Net loss per share |  |  |  |  |  |  |  |
Basic EPS |  | $ | (3.65 | ) |  | $ | (6.16 | )
Diluted EPS |  | $ | (6.57 | ) |  | $ | (6.16 | )
The following securities, presented on a common stock equivalent basis, have been excluded from the calculation of weighted average common shares outstanding because the effect is anti-dilutive:
|  | Three Months Ended March 31, |
|  | 2014 |  |  | 2013 |
Convertible preferred stock: |  |  |  |  |  |  |  |
Series A Preferred |  |  | 6,149 |  |  |  | 6,149 |
Series B Preferred |  |  | 131,685 |  |  |  | 93,568 |
Series C Preferred |  |  | 783,515 |  |  |  | 554,181 |
Series C-2 Preferred |  |  | 173,213 |  |  |  | 119,958 |
Series D-1 Preferred |  |  | 296,773 |  |  |  | — |
Series D-2 Preferred |  |  | 300,549 |  |  |  | — |
Warrants to purchase Series C-1 Preferred |  |  | 14,033 |  |  |  | 9,847 |
Warrants to purchase common stock |  |  | — |  |  |  | 26,603 |
Stock options |  |  | 184,240 |  |  |  | 152,464 |
Convertible notes |  |  | — |  |  |  | 430,493 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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