Net Loss Per Share

9 Months Ended

Sep. 30, 2011

3. Net Loss Per Share

Basic and diluted net loss per share have been computed based on net loss and the weighted-average number of common shares outstanding during the applicable period. For diluted net loss per share, common stock equivalents (common shares issuable upon the exercise of stock options and warrants) are excluded from the calculation of diluted net loss per share if their effect is antidilutive. The Company has excluded all options and warrants to purchase common stock, as such potential shares are antidilutive.

The following table sets forth the computation of historical basic and diluted net loss per share


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2011			2010			2011			2010

Net loss	$	(5,276,465	)	$	(5,273,462	)	$	(18,006,096	)	$	(15,625,405	)

Weighted average common shares outstanding used to compute basic earnings per share		78,119,694			62,248,265			71,933,556			61,884,023
Dilutive effect of:
Stock options		—			—			—			—
Warrants		—			—			—			—

Shares used to compute diluted earnings per share		78,119,694			62,248,265			71,933,556			61,884,023

Basic net loss per share	$	(0.07	)	$	(0.08	)	$	(0.25	)	$	(0.25	)

Diluted loss per share	$	(0.07	)	$	(0.08	)	$	(0.25	)	$	(0.25	)

Number of antidilutive stock options excluded from computation		7,540,274			5,593,942			7,540,274			5,593,942

Number of antidilutive warrants excluded from computation		10,562,598			13,008,484			10,562,598			13,008,484