NET LOSS PER SHARE OF COMMON STOCK

6 Months Ended

Jun. 30, 2014

NET LOSS PER SHARE OF COMMON STOCK

NET LOSS PER SHARE OF COMMON STOCK

NOTE 5 — NET LOSS PER SHARE OF COMMON STOCK

Diluted loss per share is the same as basic loss per share for all periods presented as the effects of potentially dilutive items were anti-dilutive given the Company’s net loss. Basic loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding. The following table sets forth the computation of basic and diluted loss per share for common stockholders:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2013			2014			2013
Net loss	$	(19,365,662	)	$	(375,953	)	$	(22,304,080	)	$	(647,283	)
Weighted average shares of common stock outstanding	7,604,503			3,916,774			7,255,648			3,740,593
Net loss per share of common stock – basic and diluted	$	(2.55	)	$	(0.10	)	$	(3.07	)	$	(0.17	)

The following securities outstanding at June 30, 2014 and 2013 have been excluded from the calculation of weighted average shares outstanding as their effect on the calculation of loss per share is antidilutive:

	June 30, 2014	June 30, 2013
Non-vested stock issued (see Note 9 – Stockholders’ Equity)	—	821,429
Common stock options	2,141,807	—

The above table does not include the potentially dilutive securities that would be issuable under the convertible promissory notes outstanding as described in Note 7 — Debt.