(Loss) Per Share

Basic income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock outstanding during that period. The diluted income (loss) per share calculation gives effect to dilutive stock options, warrants, convertible preferred stock, convertible notes and other potentially dilutive common stock equivalents outstanding during the period. Diluted income (loss) per share is based on the if-converted method or the treasury stock method, as applicable, and includes the effect from the potential issuance of common stock, such as shares issuable pursuant to the conversion of convertible preferred stock, convertible notes and the exercise of stock options and warrants, assuming the exercise of all "in-the-money" common stock equivalents based on the average market price during the period. Common stock equivalents have been excluded where their inclusion would be anti-dilutive.

Details in the computation of basic and diluted income (loss) per share is as follows:



	Three months ended June 30,						Six months ended June 30,
($ in thousands except share and per share data)	2019			2018			2019			2018
Income (loss) per share - basic:
Net income (loss)	$	11,743		$	(2,894	)	$	8,077		$	(5,795	)
Less: Dividend paid in-kind to preferred stockholders	(86		)	(83		)	(171		)	(165		)
Less: Deemed dividend on preferred stock	(145		)	(126		)	(285		)	(247		)
Net income (loss) attributable to common stockholders - basic	$	11,512		$	(3,103	)	$	7,621		$	(6,207	)

Numerator for basic income (loss) per share	$	11,512		$	(3,103	)	$	7,621		$	(6,207	)
Denominator for basic income (loss) per share	9,758,332			6,376,048			9,758,332			6,026,454
Basic income (loss) per common share	$	1.18		$	(0.49	)	$	0.78		$	(1.03	)

Income (loss) per share - diluted:
Numerator for basic income (loss) per share	$	11,512		$	(3,103	)	$	7,621		$	(6,207	)
Adjust: Interest and derivative revaluation expense related to convertible notes	1,338			—			—			—
Adjust: Paid in kind dividend on preferred shares	86			—			171			—
Adjust: Deemed dividend on preferred shares	145			—			285			—
Net income (loss) attributable to common stockholders - diluted	$	13,081		$	(3,103	)	$	8,077		$	(6,207	)

Denominator for basic income (loss) per share	9,758,332			6,376,048			9,758,332			6,026,454
Plus: Incremental shares underlying dilutive “in the money” stock options outstanding	25,257			—			11,483			—
Plus: Incremental common shares underlying convertible notes and related accrued interest	1,169,714			—			—			—
Plus: Incremental common shares underlying preferred stock	744,088			—			740,066			—
Denominator for diluted income (loss) per share	11,697,391			6,376,048			10,509,881			6,026,454
Diluted net income (loss) per common share	$	1.12		$	(0.49	)	$	0.77		$	(1.03	)

The following potentially dilutive securities have been excluded from the computations of diluted weighted-average shares outstanding, as their effect would be anti-dilutive:



	Three months ended June 30,		Six months ended June 30,
	2019	2018	2019	2018
“In the money” stock options	—	36,000	—	36,000
“Out of the money” stock options	286,327	263,467	286,327	263,467
“In the money” warrants	—	1,528,668	—	1,528,668
“Out of the money” warrants	7,392,966	4,903,736	7,392,966	4,903,736
Shares underlying convertible notes	—	1,056,068	1,056,068	1,056,068
Shares underlying convertible accrued interest on convertible notes	—	79,120	125,213	79,120
Shares underlying convertible preferred stock	—	720,000	—	720,000