LOSS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS

9 Months Ended

Sep. 30, 2020

Earnings Per Share, Basic and Diluted [Abstract]

LOSS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS

Basic loss per common share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted loss per common share is computed similar to basic earnings per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Diluted weighted average common shares include common stock potentially issuable under the Company’s preferred stock, par value $0.001 per share ("Preferred Stock"), warrants and vested and unvested stock options.

The following table sets forth the computation of earnings per share for the three and nine months ended September 30, 2020 and 2019, respectively (amounts in thousands except per share data): 

	For the three months ended					For the nine months ended
	September 30,					September 30,
	2020			2019		2020			2019
Net earnings (loss) - basic	$	(6,824	)	$	1,557	$	(11,384	)	$	999
Net earnings (loss) - diluted	$	(6,824	)	$	1,557	$	(11,384	)	$	999
Weighted average shares outstanding - basic		18,990,753			18,935,746		18,982,383			7,847,468
Weighted average shares outstanding - diluted		18,990,753			18,935,746		18,982,383			7,847,468

The following securities were not included in the diluted net earnings per share calculation because their effect was anti-dilutive as of the periods presented (in thousands):

	For the nine months ended
	September 30,
	2020		2019
Options		796,127		61,825
Series A convertible preferred shares		5,564,296		4,654,399
Warrants		4,033,769		4,033,769
Total		10,394,192		8,749,993