Net Income (Loss) Per Common Share - Basic and Diluted

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share - Basic and Diluted

(3)       Net Income (Loss) Per Common Share - Basic and Diluted

For the six-months ended June 30, 2020, the Company had 24,605,000 stock options outstanding, 50,090,000 warrants outstanding, 4,213 outstanding shares of Series C redeemable convertible preferred stock (Series C Preferred Stock), and 850 outstanding shares of Series B redeemable convertible preferred stock (Series B Preferred Stock), each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive. The Company used the treasury stock method in calculating weighted average common shares diluted.

For the three months ended June 30, 2020, the Company had 14,005,000 stock options outstanding, 20,090,000 warrants outstanding, 4,213 outstanding shares of Series C redeemable convertible preferred stock, and 850 outstanding shares of Series B redeemable convertible preferred stock, each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive.

The table below shows the calculation of diluted shares:

	3 Months Ended				6 Months Ended
	June 30,		June 30,		June 30,		June 30,
	2020		2019		2020		2019
Weighted average common shares outstanding - basic		423,751,657		419,230,535		422,211,840		416,568,617
Effects of dilutive shares
Stock Options		3,177,880		—		—		—
Warrants		5,700,000		—		—		—
Series B redeemable convertible preferred stock		—		—		—		—
Series C redeemable convertible preferred stock		—		—		—		—
Weighted average common shares outstanding - diluted		432,629,537		419,230,535		422,211,840		416,568,617

For the six-months ended June 30, 2019, the Company had 23,488,000 stock options outstanding, 20,090,000 warrants outstanding, 4,213 outstanding shares of Series C Preferred Stock, and 850 outstanding shares of Series B Preferred Stock, each of which were not included in the computation of diluted income per common share because they would be anti-dilutive.

The table below summarizes common stock equivalents outstanding at June 30, 2020 and 2019:

	June 30,
	2020		2019
Stock options		24,605,000		23,488,000
Warrants		50,090,000		20,090,000
850 Shares of Series B redeemable convertible preferred stock		425,000		425,000
4,213 Shares of Series C redeemable convertible preferred stock		42,130,000		42,130,000
		117,250,000		86,133,000