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Earnings Per Share
 3 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

The following table presents a reconciliation of the numerators and denominators used in the basic and diluted earnings per common share computations (in thousands except share and per share amounts):
 
 
Three Months Ended 
 September 30,
 
 
2014
 
2013
Numerator
 
 
 
 
Net loss
 
$
(8,224
)
 
$
(7,292
)
Denominator
 
 
 
 
Weighted average common shares – basic
 
31,311,110

 
24,751,368

Effect of dilutive stock options, warrants, convertible debt (a)(b)(c)
 
—

 
—

Weighted average common shares outstanding – diluted
 
31,311,110

 
24,751,368

Net loss per common share — basic and diluted
 
$
(0.26
)
 
$
(0.29
)
(a)
At September 30, 2014 and 2013, 0 and 1,667,481 warrants, respectively, were outstanding. The effect of the shares that would be issued upon exercise of these warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.
(b)
At September 30, 2014 and 2013, 847,208 and 1,656,774 stock options, respectively, were outstanding. The effect of the shares that would be issued upon exercise of these options has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.
(c)
At September 30, 2014 and 2013, 0 and 288,420 additional shares of common stock were issuable upon the conversion of outstanding convertible debt agreements. The effect of the shares that would be issued upon conversion of these debt agreements has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.