Net Loss Per Share

9 Months Ended

Sep. 28, 2014

Earnings Per Share [Abstract]

Net Loss Per Share

Note 3.  Net Loss Per Share

The Company calculates basic and diluted net loss per share in accordance with ASC Topic 260, Earnings per Share.  Basic net loss per share is based on the weighted-average number of shares of the Company’s common stock outstanding during the applicable period, and is calculated by dividing the reported net loss for the applicable period by the weighted-average number of shares of common stock outstanding during the applicable period.  Diluted net loss per share is calculated by dividing the reported net loss for the applicable period by the weighted-average number of shares of common stock outstanding during the applicable period, as adjusted to give effect to the exercise or conversion of all potentially dilutive securities outstanding at the end of the applicable period.

All of the shares of common stock underlying exercisable or convertible securities that were outstanding at September 28, 2014 and September 29, 2013 were excluded from the computation of diluted net loss per share for the three- and nine-month periods ended September 28, 2014 and September 29, 2013, respectively, because they were anti-dilutive.  As a result, basic net loss per share was equal to diluted net loss per share for the three- and nine-month periods ended September 28, 2014 and September 29, 2013.

As described in Note 9. Capital Stock, the Company completed a one-for-seven reverse stock split of its common stock on November 4, 2013.  Accordingly, the net loss per share, the number of shares outstanding, and the weighted-average number of shares outstanding that are reported in the financial statements and notes thereto for the three- and nine-month periods ended September 28, 2014 and September 29, 2013 are presented on a post-split basis to give effect to the reverse stock split.