NET LOSS PER COMMON SHARE DATA

9 Months Ended

Sep. 30, 2012

NET LOSS PER COMMON SHARE DATA

NET LOSS PER COMMON SHARE DATA

8. NET LOSS PER COMMON SHARE DATA

        The following table sets forth the computation of basic and diluted net loss attributable to common stockholders per common share, as well as a reconciliation of the numerator and denominator used in the computation:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Net loss	$	(3,059,137	)	$	(2,329,419	)	$	(8,778,319	)	$	(6,475,088	)
Loss on deemed Preferred Stock redemption		—			—			—		$	(6,906,566	)
Net loss attributable to common stockholders	$	(3,059,137	)	$	(2,329,419	)	$	(8,778,319	)		(13,381,654	)
Denominator:
Weighted-average common shares outstanding		8,005,820			2,164,607			7,872,767			2,164,100
Basic and diluted net loss per common share	$	(0.38	)	$	(1.08	)	$	(1.12	)	$	(6.18	)

        Until their exercise in August 2012, the weighted-average common shares outstanding above includes 100,000 shares underlying exercisable options nominally priced at $0.02 per share. After their exercise, the weighted-average common shares outstanding includes the 100,000 shares of common stock issued.

        The following equivalent shares were excluded from the calculation of diluted loss per share as their impact would have been anti-dilutive:

	Nine Months Ended September 30,
	2012		2011
Options to purchase common stock		913,333		2,101,774
Warrants		2,215,680		736,249
Restricted stock		122,667		191,167
Convertible preferred stock (as converted basis)		—		1,448,314