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Loss Per Share

12 Months Ended

Dec. 31, 2019

15. LOSS PER SHARE

Basic net loss per common share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net loss per common share is calculated by dividing adjusted net loss by the diluted weighted average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of stock options and warrants, which are measured using the treasury stock method, the conversion feature of the Series A Preferred Stock, and unvested shares of restricted common stock. When the Company recognizes a net loss, as was the case for the years ended December 31, 2019 and 2018, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of dilutive net loss per common share.

The following table sets forth the calculation of basic and diluted net loss per share for the years ended December 31, 2019 and 2018 all shares and per share amounts have been adjusted for a one share-for-ten shares reverse stock split which took effect on January 6, 2020:

	2019			2018
	(in thousands except per share data)
Net loss	$	(550	)	$	(1,040	)
Accrued dividend on Series A Preferred Stock		(372	)		(329	)
Net loss applicable to common shareholders	$	(922	)	$	(1,369	)

Basic weighted-average common shares outstanding		1,340			1,288
Dilutive effect of potentially dilutive securities		-			-
Diluted weighted-average common shares outstanding		1,340			1,288

Basic net loss per share	$	(0.69	)	$	(1.06	)
Diluted net loss per share	$	(0.69	)	$	(1.06	)

For the years ended December 31, 2019 and 2018, potentially dilutive securities excluded from the calculation of weighted average shares because they were anti-dilutive are as follows:

	2019		2018
	(in thousands)
Stock options		31		32
Warrants		100		100
Series A Preferred Stock		79		79

Total		210		211