Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of components of the calculations of basic and diluted earnings per share:

	Three Months Ended
	March 31, 2015			March 31, 2014
Numerator:
Net loss attributable to common shareholders	$	(11,077,851	)	$	(75,909,008	)
Denominator:
Weighted average number of common shares outstanding	173,365,830			133,750,522

Schedule of potential dilutive common shares

	At March 31,
	2015	2014
Stock options outstanding	8,191,928	4,785,485
Restricted stock outstanding	395,558	650,002
Common stock warrants (1)	4,219,442	4,250,490
Preferred stock (2)	5,554,594	11,065,897
Number of dilutive potential common shares	18,361,522	20,751,874

(1)

In May 2011, the Company issued 7,128,563 warrants as part of an underwritten public offering. As a result of additional public offerings, and pursuant to the effect of the anti-dilution provisions of these warrants, the number of warrants increased to 22,995,365. Of these warrants, 219,342 and 250,390 were unexercised as of March 31, 2015 and 2014, respectively. In February 2013, the Company issued 23,637,500 warrants as part of an underwritten public offering. Of these warrants, 100 were unexercised as of March 31, 2015 and 2014. In January 2014, the Company issued 4,000,000 warrants as part of an underwritten public offering. Of these warrants, all are unexercised as of March 31, 2015 and 2014. As of March 31, 2015, the remaining warrants have a weighted average exercise price of $3.84.

(2)

The preferred stock amount represents the dilutive potential common shares of the Series C redeemable convertible preferred stock issued on May 16, 2013 based on the conversion price of the preferred stock as of March 31, 2015. Of the 10,431 preferred shares issued in May 2013, 5,200 had been converted to common stock as of March 31, 2015.