Net Loss per Common Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Net Loss per Common Share

10. Net Loss per Common Share

Basic loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period, without considering any dilutive items. Diluted net loss per common share is computed by dividing net loss by the sum of the weighted average number of common shares outstanding and the potential number of any dilutive common shares outstanding during the period. Potentially dilutive securities consist of the incremental common stock issuable upon exercise of stock options and convertible notes. Potentially dilutive securities are excluded from the computation if their effective is anti-dilutive. There were no dilutive common shares outstanding at September 30, 2016 and 2015. The numerators and denominators used in computing basic and diluted net loss per common share in 2016 and 2015 were as follows:

	Three months ended September 30,
	2016			2015
Net loss (numerator)	$	(1,436,449	)	$	(1,412,612	)
Weighted average shares (denominator)		4,761,854			2,291,489
Basic and diluted net loss per common share	$	(0.31	)	$	(0.62	)

	Nine months ended September 30,
	2016			2015
Net loss (numerator)	$	(3,760,629	)	$	(2,931,690	)
Weighted average shares (denominator)		3,320,494			2,281,548
Basic and diluted net loss per common share	$	(1.14	)	$	(1.28	)