INCOME (LOSS) PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of basic and diluted net loss per share

The following table shows the computation of basic and diluted net loss per share for the years ended December 31, 2019 and 2018 (in thousands):



	2019			2018
Net loss	$	(272,121	)	$	(4,143	)
Dividends on preferred stock	(25,397		)	(10,687		)
Unallocated net loss	$	(297,518	)	$	(14,830	)

Numerator for basic loss per share:
Net loss attributable to common stockholders	$	(297,518	)	$	(14,830	)

Denominator for basic loss per share:
Basic weighted average common shares outstanding	87,912,362			62,854,214

Net loss per share:
Basic attributable to common stockholders	$	(3.38	)	$	(0.24	)

Numerator for diluted loss per share:
Net loss attributable to common stockholders	$	(297,518	)	$	(14,830	)
Add: interest expense on convertible Second Lien Term Loan	—			13,429
Less: gain on fair value change of embedded derivatives associated with Second Lien Term Loan	—			(35,471		)
Net loss attributable to common stockholders	$	(297,518	)	$	(36,872	)

Denominator for diluted net loss per share:
Basic weighted average common shares outstanding	87,912,362			62,854,214
Dilution effect of if-converted Second Lien Term Loan	—			15,597,127
Diluted weighted average common shares outstanding	87,912,362			78,451,341

Net loss per share - diluted:
Common shares (diluted)	$	(3.38	)	$	(0.47	)

Schedule of antidilutive securities excluded from computation of diluted loss per share

The Company excluded the following shares from the diluted loss per share calculations above because they were anti-dilutive at December 31, 2019 and 2018:



	December 31,
	2019	2018
Stock Options	3,588,350	5,031,578
Series C Preferred Stock	—	26,295,616
Series D Preferred Stock	—	8,543,670
Stock Purchase Warrants	2,754,062	5,017,329
Series E Preferred Stock	25,667,871	—
Conversion of term loans	—	—
	32,010,283	44,888,193