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Net Loss Per Common Share

6 Months Ended

Dec. 31, 2019

Basic income (loss) per common share is calculated by dividing the net income (loss) available to the common shareholders by the weighted average number of common shares outstanding during that period. Diluted net loss per share reflects the potential of securities that could share in the net loss of Aytu. For each three and six month period presented, the basic and diluted loss per share were the same for 2019 and 2018, as they were not included in the calculation of the diluted net loss per share because they would have been anti-dilutive.

The following table sets-forth securities that could be potentially dilutive, but as of the quarters ended December 31, 2019 and 2018 are anti-dilutive, and therefore excluded from the calculation of diluted earnings per share.

		Six Months Ended
		December 31
		2019		2018
Warrants to purchase common stock - liability classified	(Note 15)		240,755		240,755
Warrant to purchase common stock - equity classified	(Note 15)		26,218,908		12,065,506
Employee stock options	(Note 14)		1,482		1,787
Employee unvested restricted stock	(Note 14)		2,307,854		2,744,912
Performance-based options	(Note 14)		–		75,000
Convertible preferred stock	(Note 13)		10,215,845		4,532,664
			38,984,844		19,660,624

In January 2020, 2.0 million equity classified warrants were cashless exercised pursuant to the terms of the October 2019 warrants.