Basic and Diluted Net Loss Per Common Share

12 Months Ended

Mar. 31, 2017

Basic and Diluted Net Loss Per Common Share

NOTE 2 — BASIC AND DILUTED NET LOSS PER COMMON SHARE

Basic net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed giving effect to all potentially dilutive common shares that were outstanding during the period that are not anti-dilutive. Potentially dilutive common shares consist of incremental shares issuable upon exercise of stock options and warrants or conversion of convertible notes outstanding. In computing diluted net loss per share for the years ended March 31, 2017, 2016 and 2015, no adjustment has been made to the weighted average outstanding common shares as the assumed exercise of outstanding options and warrants and the assumed conversion of convertible notes is anti-dilutive.

Potential common shares not included in calculating diluted net loss per share are as follows:

	Years ended March 31,
	2017		2016		2015
Stock options		15,798,558		13,508,086		11,988,188
Warrants to purchase common stock		—		—		120,000
5% Convertible notes		1,861,111		1,861,111		1,861,111

Total		17,659,669		15,369,197		13,969,299