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Earnings Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings per share ("EPS") is computed based on the weighted average number of shares of common stock outstanding. Diluted EPS is computed based on the weighted average number of common shares outstanding increased by dilutive common stock equivalents, attributable to stock option awards, restricted stock awards and the Series A redeemable convertible preferred stock outstanding.

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 nine months ended September 30, 2016 and 2015:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2016
 
2015
 
2016
 
2015
Stock options and restricted stock
 
6,677,895

 
7,948,021

 
6,677,895

 
7,948,021

Series A redeemable convertible preferred stock
 
8,781,516

 
8,781,516

 
8,781,516

 
8,781,516

Total anti-dilutive common stock equivalents
 
15,459,411

 
16,729,537

 
15,459,411

 
16,729,537



The following represents a reconciliation of the numerators and denominators of the basic and diluted EPS computation:  
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,

 
2016
 
2015
 
2016
 
2015
Numerator
 
 
 
 
 
 
 
 
Net (loss) income
 
$
(1,976,173
)
 
$
(2,581,939
)
 
$
(9,807,667
)
 
$
12,256

Effects of Series A redeemable convertible preferred stock:
 
 

 
 

 
 

 
 

Less: Series A redeemable convertible preferred stock dividends
 
194,012

 
190,786

 
581,986

 
568,476

Less: Accretion to redemption value of Series A redeemable convertible preferred stock
 
178,619

 
149,969

 
513,269

 
430,943

Net loss attributable to common stockholders
 
$
(2,348,804
)
 
$
(2,922,694
)
 
$
(10,902,922
)
 
$
(987,163
)
Denominator
 
 

 
 

 
 

 
 

Weighted average basic shares outstanding
 
43,488,448

 
41,113,431

 
42,847,038

 
41,004,976

Effect of dilutive securities:
 
 

 
 

 
 

 
 

Stock options and restricted stock
 
—

 
—

 
—

 
—

Series A redeemable convertible preferred stock
 
—

 
—

 
—

 
—

Weighted average diluted shares outstanding
 
43,488,448

 
41,113,431

 
42,847,038

 
41,004,976

EPS
 
 

 
 

 
 

 
 

Basic net loss per share attributable to common stockholders
 
$
(0.05
)
 
$
(0.07
)
 
$
(0.25
)
 
$
(0.02
)
Diluted net loss per share attributable to common stockholders
 
$
(0.05
)
 
$
(0.07
)
 
$
(0.25
)
 
$
(0.02
)