Net (Loss) Income Per Common Share

6 Months Ended

Jun. 30, 2013

Net (Loss) Income Per Common Share

Net (Loss) Income Per Common Share

3. Net (Loss) Income Per Common Share

Basic and diluted net (loss) income per common share is determined by dividing net (loss) income applicable to common stockholders by the weighted average common shares outstanding during the period. For the periods where there is a net loss attributable to common stockholders, the convertible long term debt, unvested restricted shares and common stock options have been excluded from the calculation of diluted loss (income) per common stockholder because their effect would be anti-dilutive. Therefore, the weighted average shares used to calculate both basic and diluted loss per share would be the same.

The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Basic and diluted net (loss) per common share calculation:
Net loss	$	(5,450,638	)	$	(1,844,839	)	$	(10,956,284	)	$	(3,015,223	)
Basic and diluted weighted-average common shares	9,837,062			3,441,995			8,014,529			3,441,995
Basic and diluted net (loss) per share	$	(0.55	)	$	(0.54	)	$	(1.37	)	$	(0.88	)

The following potentially dilutive securities have been excluded from the computations of diluted weighted average shares outstanding for the periods presented, as they would be anti-dilutive:

	Six Months Ended June 30
	2013	2012
Restricted stock	248,869	34,507
Warrants	99,529	—
Convertible Notes	—	233,967
Options outstanding	1,879,573	1,819,839
Total	2,227,971	2,088,313