Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following represents the common stock equivalents that were excluded from the computation of diluted shares outstanding because their effect would have been anti-dilutive for the three and six months ended June 30, 2016 and 2015:

	Three Months Ended June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Stock options and restricted stock	7,692,595	8,047,333	7,692,595	5,007,276
Series A redeemable convertible preferred stock	8,781,516	8,781,516	8,781,516	8,781,516
Total anti-dilutive common stock equivalents	16,474,111	16,828,849	16,474,111	13,788,792

Computation of Earnings Per Share

The following represents a reconciliation of the numerators and denominators of the basic and diluted EPS computation:  

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Numerator
Net (loss) income	$	(3,534,882	)	$	(2,668,184	)	$	(7,831,494	)	$	2,594,195
Effects of Series A redeemable convertible preferred stock:
Less: Series A redeemable convertible preferred stock dividends	195,366			186,904			387,974			377,690
Less: Accretion to redemption value of Series A redeemable convertible preferred stock	170,981			143,557			334,650			280,974
Net (loss) income attributable to common stockholders	$	(3,901,229	)	$	(2,998,645	)	$	(8,554,118	)	$	1,935,531
Denominator
Weighted average basic shares outstanding	43,159,285			40,964,160			42,521,018			40,949,849
Effect of dilutive securities:
Stock options and restricted stock	—			—			—			1,542,828
Series A redeemable convertible preferred stock	—			—			—			—
Weighted average diluted shares outstanding	43,159,285			40,964,160			42,521,018			42,492,677
EPS
Basic net (loss) income per share attributable to common stockholders	$	(0.09	)	$	(0.07	)	$	(0.20	)	$	0.05
Diluted net (loss) income per share attributable to common stockholders	$	(0.09	)	$	(0.07	)	$	(0.20	)	$	0.05