Note 4 - Loss Per Share

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

4

- LOSS PER SHARE

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

	Three Months Ended March 31,
	2017			2016
Numerator:
Net loss available in basic and diluted calculation	$	(1,341,847	)	$	(2,176,369	)
Other comprehensive income:
Unrealized gain from marketable securities		-			2,850
Comprehensive (loss)		(1,341,847	)		(2,173,519	)
Denominator:
Weighted average common shares outstanding-basic		6,450,967			723,848
Effect of diluted stock options, warrants and preferred stock (1)		-			-
Weighted average common shares outstanding-basic		6,450,967			723,848
Loss per common share-basic and diluted	$	(0.21	)	$	(3.01	)

(1)

The number of shares underlying options and warrants outstanding as of

March

31,

2017

and

March

31,

2016

are

1,427,558

and

167,986

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

March

31,

2017

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.