Net Loss Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2015

Net Loss Attributable to Common Stockholders

Note 10 – Net Loss Attributable to Common Stockholders:

Basic net loss per share of common stock is calculated by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net loss per share of common stock is computed by giving effect to all potentially dilutive securities. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, due to the fact that potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss for the three and nine months ended September 30, 2015 and September 30, 2014.

The potentially dilutive securities excluded from the determination of diluted loss per share, as their effect is antidilutive, are as follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2015		2014		2015		2014
Convertible Preferred Series C (on an as-if converted basis)		—		9,234,560		—		8,967,953
Service Period Stock Options		1,980,651		1,082,000		2,000,929		1,082,285
Warrants		61,117		61,117		61,117		61,117
Total		2,041,768		10,377,677		2,062,046		10,111,355

The computation of net income attributable to common stockholders is as follows:

	Three months ended						Nine months ended
	September 30,						September 30,
	2015			2014			2015			2014
Net loss	$	(1,675,350	)	$	(9,483,241	)	$	(6,491,074	)	$	(20,892,267	)
Preferred stock dividends on Series B and Series C*		—			(2,897,014	)		—			(9,744,704	)
Net loss attributable to common stockholders	$	(1,675,350	)	$	(12,380,255	)	$	(6,491,074	)	$	(30,636,971	)

* See Note 7 for further detail.