Net Loss Per Share and Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net Loss Per Share and Stockholders' Equity

Basic net loss per share is computed using the weighted average number of common shares outstanding during the period, excluding any unvested restricted stock. Diluted net loss per share is computed using the weighted average number of common shares, and if dilutive, potential common shares outstanding, as determined under the treasury stock and if-converted methods, during the period. Potential common shares consist of unvested restricted stock and common shares issuable upon the exercise of stock options and warrants.   

The following are the share amounts utilized to compute the basic and diluted net loss per share for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended September 30,						Nine Months Ended  September 30,
	2020			2019			2020			2019
Basic shares:
Weighted average common shares outstanding		13,153,752			13,146,831			13,149,155			13,093,649
Weighted average unvested restricted stock		(12,898	)		(32,790	)		(13,187	)		(43,114	)
Basic shares		13,140,854			13,114,041			13,135,968			13,050,535
Diluted shares:
Basic shares		13,140,854			13,114,041			13,135,968			13,050,535
Weighted average dilutive securities		—			—			—			—
Diluted shares		13,140,854			13,114,041			13,135,968			13,050,535

For the three and nine months ended September 30, 2020 and 2019, the Company’s basic and diluted numbers of shares are the same because the Company generated a net loss for the period and potentially dilutive securities are excluded from diluted net loss per share because they have an anti-dilutive impact.

For the three and nine months ended September 30, 2020, 3.9 million and 3.9 million of potentially anti-dilutive securities related to common stock have been excluded from the calculation of diluted net earnings per share, respectively. For the three and nine months ended September 30, 2019, 4.6 million and 4.6 million of potentially anti-dilutive securities related to common stock have been excluded from the calculation of diluted net earnings per share, respectively.