Note 11 - Basic and Diluted Net Loss Per Share

9 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

11 . Basic and Diluted Net Loss Per Share

Basic net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share is computed similar to basic net loss per share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if all of the Company’s potential shares, warrants and stock options had been issued and if the additional shares are dilutive.

Because of their anti-dilutive effect, all stock options and warrants for the three and nine months ended September 30, 2015 and 2014, respectively, have been excluded from the calculation of diluted net loss per share.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Basic and dilutive numerator:
Net loss, as reported	$	(13,224,495	)	$	(3,449,470	)	$	(20,710,233	)	$	(9,284,877	)
Denominator:
Weighted-average shares outstanding		18,614,968			18,671,121			18,614,968			12,155,041
Net loss per share - basic and diluted	$	(0.71	)	$	(0.18	)	$	(1.11	)	$	(0.76	)