Three Months Ended

Six Months Ended

June 30,

(in thousands, except per share data)

2016

2015

2016

2015

Numerator:

Net income (loss) available to common shareholders

$

(519

)

$

(1,497

)

$

(2,463

)

$

11,359

Effect of dilutive securities

Derivative liability - warrants

$

(41

)

$

-

$

(128

)

$

(1,534

)

Accretion on convertible preferred stock

-

222

Numerator for diluted income (loss) per common share

$

(560

)

$

(1,497

)

$

(2,591

)

$

10,047

Denominator:

Weighted average shares used to compute basic income (loss) per common share

27,051

24,435

27,051

21,555

Effect of dilutive securities:

Derivative liability - warrants

-

82

Convertible preferred stock

-

2,305

Stock options

-

309

Denominator for diluted income (loss) per common share

27,051

24,435

27,051

24,251

Basic income (loss) per common share

$

(0.02

)

$

(0.06

)

$

(0.09

)

$

0.53

Diluted income (loss) per common share

$

(0.02

)

$

(0.06

)

$

(0.09

)

$

0.41