(9) Net (Loss) Income Per Common Share

The calculation of basic and diluted income (loss) per common share and common share equivalents is as follows (in thousands except for per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
Basic net (loss) income per common share
Net loss	$	(1,514	)	$	(376	)	$	(742	)	$	(1,817	)
Add: Excess of carrying value of Series C Preferred Stock over redemption value		—			459						459
Less: Preferred stock dividends		—			(7	)		—			(14	)
Net (loss)income applicable to common stock	$	(1,514	)	$	76		$	(742	)	$	(1,372	)
Basic weighted average number of common shares outstanding		11,103			10,803			11,023			10,803
Basic net (loss) income per common share	$	(0.14	)	$	0.01		$	(0.07	)	$	(0.13	)
Diluted income (loss) per common share
Net (loss) income applicable to common stock	$	(1,514	)	$	76		$	(742	)	$	(1,372	)
Less: Excess of carrying value of Series C Preferred Stock over redemption value		—			(459	)		—			—
Add: Preferred stock dividends		—			7			—			—
Net loss applicable to dilutive common stock	$	(1,514	)	$	(376	)	$	(742	)	$	(1,372	)
Basic weighted average number of common shares outstanding		11,103			10,803			11,023			10,803
Effect of dilutive securities
Dilutive stock awards		—			40			—			—
Dilutive preferred share conversion					111
		—			151			—			—
Diluted weighted average number of common shares outstanding		11,103			10,954			11,023			10,803
Diluted net (loss) income per common share	$	(0.14	)	$	(0.03	)	$	(0.07	)	$	(0.13	)

Basic net (loss) income per common share is computed by dividing the net (loss) income, less preferred dividends and adding the excess of carrying value of Series C Preferred Stock over redemption value recognized on the conversion of the Series C Preferred Shares by the weighted-average number of shares of common stock outstanding during a period. The diluted income (loss) per common share calculation gives effect to dilutive options, convertible preferred stock, and other potential dilutive common stock including restricted shares of common stock outstanding during the period. Diluted net (loss) income per share is based on the treasury stock method and includes the effect from potential issuance of common stock, such as shares issuable pursuant to the exercise of stock options, assuming the exercise of all in-the-money stock options. Common share equivalents have been excluded where their inclusion would be anti-dilutive.

Shares to be issued upon the exercise of the outstanding options, performance-based restricted stock units, convertible preferred stock, and selected restricted shares of common stock excluded from the income per share calculation amounted to 2.0 million and 2.4 million and 2.0 million and 1.5 million in each of the three and six months ended June 30, 2018 and 2017, respectively, because the awards were anti-dilutive.