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Net Loss Per Share
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Loss Per Share

NOTE 12. NET LOSS PER SHARE

 

The calculation of the weighted average number of shares outstanding and loss per share outstanding for the three months ended March 31, 2020 and 2019 are as follows:

 

   

Three months ended

March 31,

  
    2020     2019  
Numerator for basic and diluted income per share – Net loss   $ (2,334,110 )   $ (3,205,174 )
                 
Denominator for basic loss per share – weighted average shares outstanding     13,888,438       10,941,856  
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     13,888,438       10,941,856  
                 
Net loss per share:                
Basic   $ (0.17 )   $ (0.29 )
Diluted   $ (0.17 )   $ (0.29 )

 

Basic loss per share is based upon the weighted average number of common shares outstanding during the period. For the three months ended March 31, 2020 and 2019, 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.