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Net Loss Per Common Share
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Net Loss Per Common Share

Note 5. Net Loss per Common Share

 

Basic loss per share is calculated based upon the net loss available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated after adjusting the denominator of the basic earnings per share computation for the effects of all dilutive potential common shares outstanding during the period. The dilutive effects of preferred stock, options and warrants and their equivalents are computed using the treasury stock method.

 

The total number of shares of common stock issuable upon exercise of warrants, stock option grants and equity awards were 5,412,554 shares for the three-month period ended March 31, 2019. Warrants with an exercise price of $0.01 (as more fully described in Note 13 of these financial statements) exercisable for 200,000 shares of common stock was considered issued in calculating basic loss per share. For the three-month period ended March 31, 2019, diluted loss per common share was the same as basic loss per common share as the other 5,212,554 warrants and equity awards that were convertible into shares of the Company’s common stock were excluded from the calculation of diluted loss per common share as their effect would have been anti-dilutive.

 

The total number of shares of common stock issuable upon exercise of warrants and equity awards was 3,655,643 shares for the three-month period ended March 31, 2018. For the three month period ended March 31, 2018, diluted loss per common share was the same as basic loss per common share as all options and all warrants that were exercisable into shares of the Company’s common stock were excluded from the calculation of diluted earnings attributable to common shareholders per common share as their effect would have been anti-dilutive.

 

The Company did not pay any dividends during the three-month periods ended March 31, 2019 and 2018.