Net Loss Per Common Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Net Loss Per Common Share

3. Net Income (Loss) Per Common Share

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

	Quarters Ended September 30,					Nine Months Ended September 30,
	2019			2018		2019			2018
Net income (loss) applicable to common stockholders	$	(1,404,600	)	$	1,086,058	$	(2,716,284	)	$	2,826,238
Weighted average number of common shares outstanding, basic	9,781,755			7,365,038		8,863,159			7,016,789
Dilutive convertible preferred stock	—			6,584,674		—			6,847,164
Weighted average number of common shares outstanding, dilutive	9,781,755			13,949,712		8,863,159			13,863,953
Net income (loss) per common share applicable to common stockholders, basic	$	(0.14	)	$	0.15	$	(0.31	)	$	0.40
Net income (loss) per common share applicable to common stockholders, diluted	$	(0.14	)	$	0.08	$	(0.31	)	$	0.20

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

	Quarters Ended September 30,		Nine Months Ended September 30,
	2019	2018	2019	2018
Options	404,395	474,148	458,207	426,166
Warrants	442,215	459,375	453,592	459,375
Convertible preferred stock	4,203,936	—	5,108,289	—
Total	5,050,546	933,523	6,020,088	885,541

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

	Quarters Ended September 30,					Nine Months Ended September 30,
	2019			2018		2019			2018
Net income (loss) applicable to common stockholders	$	(1,404,600	)	$	1,086,058	$	(2,716,284	)	$	2,826,238
Weighted average number of common shares outstanding, basic	9,781,755			7,365,038		8,863,159			7,016,789
Dilutive convertible preferred stock	—			6,584,674		—			6,847,164
Weighted average number of common shares outstanding, dilutive	9,781,755			13,949,712		8,863,159			13,863,953
Net income (loss) per common share applicable to common stockholders, basic	$	(0.14	)	$	0.15	$	(0.31	)	$	0.40
Net income (loss) per common share applicable to common stockholders, diluted	$	(0.14	)	$	0.08	$	(0.31	)	$	0.20