NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2014

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 12—NET LOSS PER SHARE

        Basic and diluted net loss per common share for the years ended December 31, 2014 and 2013, respectively, was determined by dividing net loss by the weighted average common shares outstanding during the period. The Company's potentially dilutive shares, which include 861,287 of stock options, 42,000 unvested common shares, and 31,500 warrants, have not been included in the computation of diluted net loss per share for all periods as the result would be antidilutive. On March 18, 2014, the Company completed a corporate conversion from a limited liability company to a corporation, (the "Conversion"). Accordingly, the outstanding Class A Membership Interests were converted to shares of common stock using a conversion ratio of 7 to 1, resulting in the conversion of its 767,911 Class A Membership Interests into an aggregate of 5,375,377 shares of common stock. The effects of this Conversion on the Company's net loss per share have been reflected for all periods presented retroactively.