Note 5 - Loss Per Share

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

5

- LOSS PER SHARE

The following table presents the shares used in the basic and diluted loss per common share computations:

	Year Ended December 31,
	2016			2015
Numerator:
Net loss available in basic and diluted calculation	$	(6,526,014	)	$	(4,790,530	)
Other comprehensive income:
Unrealized gain (loss) from marketable securities		1,501			-
Comprehensive (loss)		(6,524,513	)		(4,790,530	)
Denominator:
Weighted average common shares outstanding-basic		2,823,345			155,233
Effect of dilutive stock options, warrants and preferred stock (1)		-			-
Weighted average common shares outstanding-basic		2,823,345			155,233
Loss per common share-basic and diluted	$	(2.31	)	$	(30.86	)

(1)

The number of shares underlying options and warrants outstanding as of

December

31,

2016

and

December

31,

2015

are

1,036,744

and

354,449,

respectively. The number of shares underlying the preferred stock as of

December

31,

2016

is

79,246.

The effect of the shares that would be issued upon exercise of such options, warrants and preferred stock has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.