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Net Loss Per Share

9 Months Ended

Sep. 30, 2019

NOTE 14. NET LOSS PER SHARE

The calculations of the weighted average number of shares outstanding and loss per share outstanding for the three and nine months ended September 30, 2019 and 2018 are as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Numerator for basic and diluted income per share – Net loss	$	(2,985,825	)	$	(4,665,580	)	$	(6,578,729	)	$	(10,216,702	)

Denominator for basic loss per share – weighted average shares outstanding		11,637,289			7,725,877			11,296,999			7,295,098

Dilutive effect of shares issuable under stock options and warrants outstanding		—			—			—			—

Denominator for diluted loss per share – adjusted weighted average shares outstanding		11,637,289			7,725,877			11,296,999			7,295,098

Net loss per share:
Basic	$	(0.26	)	$	(0.60	)	$	(0.58	)	$	(1.40	)
Diluted	$	(0.26	)	$	(0.60	)	$	(0.58	)	$	(1.40	)

Basic loss per share is based upon the weighted average number of common shares outstanding during the period. For the three and nine months ended September 30, 2019 and 2018, all outstanding stock options to purchase common stock were antidilutive, and, therefore, not included in the computation of diluted net loss per share.