Loss per Share

12 Months Ended

Dec. 31, 2021

Loss per ShareBasic and diluted net loss per common share was determined by dividing net loss by the weighted-average common shares outstanding during the period. Prior to the adoption of ASU 2020-06 in 2021, basic and diluted net loss per common share was determined by dividing net loss applicable to common stockholders by the weighted-average common shares outstanding during the period with net loss attributable to common stockholders’ being adjusted for the preferred stock deemed dividends related accretion of the beneficial conversion feature and other discount on this instrument for the periods in which the preferred stock is outstanding.

The following table sets forth the computation of basic and diluted net loss per share for the periods indicated:


	Year Ended December 31,
Basic and diluted net loss per common share	2021		2020
Numerator:
Net loss	(32,722,168)		(20,353,938)
Preferred stock deemed dividend	—		(5,287)
Net loss attributable to common stockholders	$	(32,722,168)	$	(20,359,225)
Denominator:
Weighted average common shares outstanding	70,291,535		9,677,832
Net loss per share of common stock—basic and diluted	$	(0.47)	$	(2.10)

The following outstanding securities at December 31, 2021 and 2020 have been excluded from the computation of basic and diluted weighted shares outstanding, as they would have been anti-dilutive:


	Year Ended December 31,
	2021	2020
Common shares issuable upon conversion of Series A preferred stock	3,184	3,184
Common shares issuable upon conversion of Series C preferred stock	16,645	16,747
Stock options	8,774,974	2,460,677
Warrants – liability classified	10,714	102,642
Warrants – equity classified	4,311,182	3,118,568
Total	13,116,699	5,701,818

The liability and equity classified warrants disclosed above have been excluded from the computation of diluted earnings per share because the exercise price of the warrants exceeds the average market price of our common stock for the period they were outstanding.