Earnings (Loss) Per Share of Common Stock

9 Months Ended

Sep. 30, 2015

Earnings (Loss) Per Share of Common Stock [Abstract]

Earnings (Loss) Per Share of Common Stock

13. Earnings (Loss) Per Share of Common Stock

Basic earnings (loss) per share of common stock is computed based upon the number of weighted average shares of common stock outstanding as defined by ASC Topic 260, Earnings Per Share. Diluted earnings (loss) per share of common stock includes the dilutive effects of stock options, warrants and stock equivalents. To the extent stock options, stock equivalents, shares underlying the Note and warrants are antidilutive, they are excluded from the calculation of diluted net loss per share of common stock. For the three and nine months ended September 30, 2015, 46,688,953 shares issuable upon the conversion of the Note payable, the exercise of stock options and warrants, and unvested restricted stock awards were not included in the computation of diluted earnings (loss) per share because their inclusion would be antidilutive. For the three and nine months ended September 30, 2014, 16,863,528 shares issuable upon the exercise of stock options and warrants were not included in the computation of diluted earnings (loss) per share because their inclusion would have been antidilutive.

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted earnings (loss) per share of common stock: 

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2015		2014			2015			2014
Numerator:
Net income (loss)	$	539,354	$	(217,549	)	$	(938,812	)	$	(1,410,324	)
Denominator:
Basic shares:
Weighted-average number of shares of common stock outstanding		39,686,087		39,152,713			39,591,540			39,164,603
Diluted shares:
Weighted-average number of shares used to compute basic net loss per share of common stock		39,686,087		39,152,713			39,591,540			39,164,603
Weighted-average number of shares used to compute diluted net loss per share of common stock		39,686,087		39,152,713			39,591,540			39,164,603
Earnings (loss) per share of common stock:
Basic	$	0.01	$	(0.01	)	$	(0.03	)	$	(0.04	)
Diluted	$	0.01	$	(0.01	)	$	(0.03	)	$	(0.04	)