9.	LOSS PER SHARE COMMON STOCK (“EPS”)

The Company’s basic EPS is calculated using net loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible notes and preferred stock.

The reconciliation of the numerators of the basic and diluted EPS calculations was as follows for both of the following

three

and

nine

month periods ended

September 30, 2018

and

2017:

	Three Months ended September 30,						Nine Months ended September 30,
	201 8			201 7			201 8			201 7

Basic Numerator:
Net loss	$	(1,641,315	)	$	(1,605,784	)	$	(5,488,772	)	$	(4,751,301	)
Deemed dividend from trigger of anti-dilution provision feature		(1,428,966	)		-			(1,428,966	)		-
Convertible preferred stock dividends		-			(200,625	)		(198,033	)		(601,875	)
Net loss available to common stockholders	$	(3,070,281	)	$	(1,806,409	)	$	(7,115,771	)	$	(5,353,176	)

The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the

three

and

nine

months ended

September 30, 2018

and

2017:

	Three Months ended September 30,				Nine Months ended September 30,
	201 8		201 7		201 8		201 7

Preferred stock		-		5,416,667		1,902,342		5,416,667
Stock options		256		205,497		11,838		101,327
Warrants		785,993		9,492		992,574		5,608
Total		786,249		5,631,656		2,906,754		5,523,602

Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares:

	Three Months ended September 30,				Nine Months ended September 30,
	201 8		201 7		201 8		201 7

Stock options		1,541,558		262,094		1,335,056		278,761
Warrants		186,806		1,351,052		186,806		1,351,052
Total		1,728,364		1,613,146		1,521,862		1,629,813