26.	Loss per share

Basic and diluted loss per share for each of the periods presented are calculated as follows (All amounts, except number of shares and per share data, are presented in thousands of U.S. dollars):

	Nine Months Ended September 30,						Three Months Ended September 30,
	2018			2017			2018			2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)

Net loss attributable to ChinaNet Online Holdings, Inc. (numerator for basic and diluted loss per share)	$	(12,888	)	$	(3,963	)	$	(2,953	)	$	(2,087	)


Weighted average number of common shares outstanding -Basic and diluted		15,756,876			12,019,040			15,915,501			12,074,304

Loss per share-Basic and diluted	$	(0.82	)	$	(0.33	)	$	(0.19	)	$	(0.17	)

For the

nine

and

three

months ended

September 30, 2018,

the diluted loss per share calculation did

not

include warrants and options to purchase up to

774,000

and

835,216

shares of the Company’s common stock, respectively, because they were out of the money, and did

not

include

266,238

shares of unvested restricted common stock before they were vested during the

third

quarter of

2018,

because their effect was anti-dilutive, as the Company incurred a loss for the periods.

For the

nine

and

three

months ended

September 30, 2017,

the diluted loss per share calculation did

not

include options to purchase up to

835,216

shares of the Company’s common stock, because they were out of the money, and did

not

include

266,238

shares of unvested restricted common stock, because their effect was anti-dilutive, as the Company incurred a loss for the periods.