Net Loss per Share

9 Months Ended

12 Months Ended

Sep. 30, 2016

Dec. 31, 2015

Notes to Financial Statements

Note 10 - Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period. Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised.

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

	Three months ended September 30,						Nine months ended September 30,
	2016			2015			2016			2015
Net loss available for stockholders	$	(389,820)		$	(977,343)		$	(3,620,396)		$	(5,205,783)
Weighted average outstanding shares of common stock		84,143,586			66,089,776			80,677,887			63,938,744
Dilutive effect of stock options and warrants	--			--			--			--
Common stock and equivalents		84,143,586			66,089,776			80,677,887			63,938,744
Net loss per share – Basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.04	)	$	(0.08	)

Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position.

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period. Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised.

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

	Year ended December 31,
	2015			2014
Net loss available for stockholders	$	(6,923,100	)	$	(23,562,979	)
Weighted average outstanding shares of common stock		64,586,781			56,742,881
Dilutive effect of stock options and warrants		-			-
Common stock and equivalents		64,586,781			56,742,881
Net loss per share – Basic and diluted	$	(0.11	)	$	(0.42	)

Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position. The following summarizes equity instruments that may, in the future, have a dilutive effect on earnings per share:

	December 31,
	2015		2014
Stock options		10,000,000		10,000,000
Common stock warrants		29,651,275		29,518,403
Common stock issuable		701,018		729,328
Common stock issuable – warrants		226,191		729,328
Convertible notes		3,586,915		-
Convertible preferred stock		6,800,000		7,000,000
Total		50,965,399		47,977,059
Total exercisable at December 31		46,038,190		34,097,059