NET (LOSS) INCOME PER SHARE (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of net loss per share:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Numerator:
Net (loss) income	$	(1,893,377)	$	5,974,140	$	(4,313,262)	$	1,224,401
Less: non-cash income from change in fair value of common stock warrants		-		3,697,000		-		2,492,000
Net (loss) income - diluted		(1,893,377)		2,277,140		(4,313,262)		(1,267,599)

Denominator:
Weighted average common shares outstanding - basic		8,576,634		5,935,000		8,503,521		5,908,917
Dilutive effect of warrants, net		-		565,417		-		743,500
Dilutive effect of stock options, net		-		24,333		-		-
Weighted average common shares outstanding - diluted		8,576,634		6,524,750		8,503,521		6,652,417

Net (loss) income per share data:
Basic	$	(0.22)	$	1.01	$	(0.51)	$	0.21
Diluted	$	(0.22)	$	0.35	$	(0.51)	$	(0.19)

Net Loss Per Share

The following securities, rounded to the thousand, were not included in the diluted net loss per share calculation because their effect was anti-dilutive for the periods presented:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Common stock options		455,000		251,000		455,000		297,000
Common stock warrants - equity treatment		6,540,000		213,000		6,540,000		213,000
Common stock warrants - liability treatment		3,500		2,283,000		3,500		2,068,000
Potentially dilutive securities		6,998,500		2,747,000		6,998,500		2,578,000