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Net Loss Per Common Share
 3 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Net Loss Per Common Share

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 the Company. For each three-month period presented, the basic and diluted loss per share were the same for 2020 and 2019, 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 September 30, 2020 and 2019 are anti-dilutive, and therefore excluded from the calculation of diluted earnings per share.

 

      Three Months Ended
      September 30,
      2020  2019
Warrants to purchase common stock - liability classified       240,755    240,755 
Warrant to purchase common stock - equity classified    (Note 13)    23,799,177    16,218,908 
Employee stock options    (Note 12)    765,937    1,556 
Employee unvested restricted stock    (Note 12)    3,816,858    2,342,604 
Convertible preferred stock    (Note 11)    —      3,151,148 
         28,622,727    21,954,971