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Net Loss Per Share

12 Months Ended

Dec. 31, 2019

NOTE 16. NET LOSS PER SHARE

The calculation of the weighted average number of shares outstanding and loss per share outstanding for the years ended December 31, 2019 and 2018 are as follows:

	Year ended December 31,
	2019			2018
Numerator for basic and diluted income per share – Net loss	$	(10,005,713	)	$	(15,544,551	)

Denominator for basic loss per share – weighted average shares outstanding		11,478,618			8,073,257
Dilutive effect of shares issuable upon conversion of convertible debt and the exercise of stock options and warrants outstanding		—			—

Denominator for diluted loss per share – adjusted weighted average shares outstanding		11,478,618			8,073,257

Net loss per share:
Basic	$	(0.87	)	$	(1.93	)
Diluted	$	(0.87	)	$	(1.93	)

Basic loss per share is based upon the weighted average number of common shares outstanding during the period. For the years ended December 31, 2019 and 2018, all shares issuable upon conversion of convertible debt and the exercise of outstanding stock options and warrants were antidilutive, and, therefore, not included in the computation of diluted income (loss) per share.