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NET LOSS PER COMMON SHARE
 6 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
NET LOSS PER COMMON SHARE
Net Loss Per Common Share
 
Basic earnings (loss) per share is calculated using the two-class method, which is an earnings allocation formula that determines earnings (loss) per share for the holders of the Company’s common shares and holders of the Series B preferred stock.  The Series B preferred stock shares contain participation rights in undistributed earnings, but do not share in the losses of the Company.  The dividends on the Series B preferred stock are treated as a reduction of earnings attributable to common shareholders.

The following reflects the net loss attributable to common shareholders and share data used in the basic and diluted earnings per share computations using the two class method: 
 
 
Three months ended June 30,
 
Six months ended June 30,
(Amounts In thousands except per share amounts)
 
2016
 
2015
 
2016
 
2015
Numerator:
 
 

 
 

 
 

 
 

Net loss
 
$
(3,044
)
 
$
(2,152
)
 
$
(6,694
)
 
$
(7,014
)
Dividends accumulated on convertible preferred stock
 
(1,856
)
 
(1,654
)
 
(3,660
)
 
(3,244
)
Net loss attributable to common shareholders
 
$
(4,900
)
 
$
(3,806
)
 
$
(10,354
)
 
$
(10,258
)
Denominator:
 
 

 
 

 
 

 
 

Denominator for basic and diluted EPS:
 
 

 
 

 
 

 
 

Weighted-average common shares outstanding
 
22,684

 
23,786

 
22,644

 
23,786

Net loss per share attributable to common shareholders (basic and diluted)
 
$
(0.22
)
 
$
(0.16
)
 
$
(0.46
)
 
$
(0.43
)

 
Common equivalent shares are not included in the diluted per share calculation where the effect of their inclusion would be anti-dilutive.  The aggregate number of common equivalent shares (related to options, warrants and preferred stock) that have been excluded from the computations of diluted net loss per common share at June 30, 2016 and 2015 were 6.4 million and 4.3 million, respectively.