Income/(Loss) per Common Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Net (Loss)/income per Common Share

Net (Loss)/income per Common Share

        The computation of basic net (loss)/income per share is based on the weighted average number of common shares outstanding for the years ended December 31, 2019, 2018 and 2017. As of December 31, 2019 and 2018, the Company had 3,040,540 outstanding warrants convertible to 152,027 shares of the Company's common stock with an exercise price of $556.40 per share. The warrants have a 7 year term and will expire on October 15, 2021. Diluted net (loss)/income per share gives effect to stock awards, stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive.

        Diluted net loss per share for the year ended December 31, 2019 does not include 1,559,502 stock awards, 2,284,796 stock options and outstanding warrants convertible to 152,027 shares of common stock as their effect was anti-dilutive. Additionally, the Convertible Bond Debt is not considered a participating security and therefore not included in the computation of Basic net loss per share for the year ended December 31, 2019. The Company determined that it does not overcome the presumption of share settlement of outstanding debt and therefore the Company applied the if-converted method and did not include the potential shares to be issued upon conversion of Convertible Bond Debt in the calculation of Diluted net loss per share for the year ended December 31, 2019 as their effect was anti-dilutive.

Diluted net income per share for the year ended December 31, 2018 does not include 687 unvested stock awards, 348,625 stock options and outstanding warrants convertible to 152,027 shares of common stock as their effect was anti-dilutive.

         Diluted net loss per share for the year ended December 31, 2017 does not include 1,716,928 unvested stock awards, 2,301,046 stock options and outstanding warrants convertible to 152,027 shares of common stock as their effect was anti-dilutive.

	For the Years Ended
	December 31, 2019		December 31, 2018		December 31, 2017
Net (loss)/income	$	(21,697,115)	$	12,574,684	$	(43,796,685)
Weighted Average Shares-Basic	71,365,618		70,665,212		69,182,302
Dilutive effect of stock options, warrants and restricted stock units	—		1,136,961		—
Weighted Average Shares - Diluted	71,365,618		71,802,173		69,182,302
Basic net (loss)/income per share	$	(0.30)	$	0.18	$	(0.63)
Diluted net (loss)/income per share	$	(0.30)	$	0.18	$	(0.63)