Net Loss Per Common Share

6 Months Ended

Jun. 30, 2019


3.	Net Income (Loss) Per Common Share

Basic and dilutive net income (loss) per common share were as follows:



	Quarters Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
Net income (loss) applicable to common stockholders	$	(3,362,191	)	$	573,928	$	(1,311,684	)	$	1,740,180

Weighted average number of common shares outstanding, basic	9,048,235			7,330,479		8,396,249			6,839,778
Dilutive convertible preferred stock	—			6,584,674		—			6,980,585
Weighted average number of common shares outstanding, dilutive	9,048,235			13,915,153		8,396,249			13,820,363

Net income (loss) per common share applicable to common stockholders, basic	$	(0.37	)	$	0.08	$	(0.16	)	$	0.25
Net income (loss) per common share applicable to common stockholders, diluted	$	(0.37	)	$	0.04	$	(0.16	)	$	0.13

Shares underlying the following potentially dilutive weighted average number of common stock equivalents were excluded from the calculation of diluted net (loss) income per common share because their effect was anti-dilutive for each of the periods presented:



	Quarters Ended June 30,		Six Months Ended June 30,
	2019	2018	2019	2018
Options	482,656	466,025	485,559	401,778
Warrants	459,375	459,375	459,375	459,375
Convertible preferred stock	4,915,974	—	5,567,960	—
Total	5,858,005	925,400	6,512,894	861,153

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]



	Quarters Ended June 30,					Six Months Ended June 30,
	2019			2018		2019			2018
Net income (loss) applicable to common stockholders	$	(3,362,191	)	$	573,928	$	(1,311,684	)	$	1,740,180

Weighted average number of common shares outstanding, basic	9,048,235			7,330,479		8,396,249			6,839,778
Dilutive convertible preferred stock	—			6,584,674		—			6,980,585
Weighted average number of common shares outstanding, dilutive	9,048,235			13,915,153		8,396,249			13,820,363

Net income (loss) per common share applicable to common stockholders, basic	$	(0.37	)	$	0.08	$	(0.16	)	$	0.25
Net income (loss) per common share applicable to common stockholders, diluted	$	(0.37	)	$	0.04	$	(0.16	)	$	0.13