11. Earnings per common share:

The following table reconciles the numerators and denominators of the basic and diluted earnings per common share computations (in thousands, except share and per share data).


	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Basic:
Net (loss) income	$	(6,380	)	$	(11,951	)	$	(26,859	)	$	21,495
Less deemed dividend related to beneficial conversion feature on Series B Preferred Stock		(12,500	)		—			(12,500	)		—
Net (loss) income attributable to common stockholders, basic	$	(18,880	)	$	(11,951	)	$	(39,359	)	$	21,495

Weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			55,170,569

Basic (loss) income per common share	$	(0.29	)	$	(0.21	)	$	(0.65	)	$	0.39

Diluted:
Effect of dilutive securities:
Net (loss) income attributable to common stockholders, diluted	$	(18,880	)	$	(11,951	)	$	(39,359	)	$	21,495

Weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			55,170,569
Effect of dilutive options and warrants		—			—			—			1,033,789

Diluted weighted average common shares outstanding		64,900,007			55,604,708			60,599,456			56,204,358

Diluted (loss) income per common share	$	(0.29	)	$	(0.21	)	$	(0.65	)	$	0.38

Basic earnings per common share is calculated using the weighted average shares of Common Stock outstanding during the period. In addition to the weighted average shares of Common Stock outstanding, common equivalent shares from stock options, RSUs, warrants and preferred shares using the treasury stock method, are included in the diluted per share calculations unless the effect of inclusion would be antidilutive. During the three months ended September 30, 2018 and 2017, outstanding stock options, RSUs, warrants and preferred shares of 25,745,108 and 9,638,211, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect. During the nine months ended September 30, 2018 and 2017, outstanding stock options, RSUs, warrants and preferred shares of 18,917,774 and 5,230,179, respectively, were not included in the computation of diluted earnings per common share, because to do so would have had an antidilutive effect. Included in the three and nine months ended September 30, 2018 are the Series B shares as converted to common stock.