Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

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, 2017 and 2016:

	Three Months Ended June 30,		Six Months Ended June 30,
	2017	2016	2017	2016
Stock options and restricted stock	6,427,858	7,692,595	6,427,858	7,692,595
Series A redeemable convertible preferred stock	8,781,516	8,781,516	8,781,516	8,781,516
Total anti-dilutive common stock equivalents	15,209,374	16,474,111	15,209,374	16,474,111

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,
	2017			2016			2017			2016
Numerator
Net loss	$	(639,801	)	$	(3,534,882	)	$	(1,751,998	)	$	(7,831,494	)
Effects of Series A redeemable convertible preferred stock:
Less: Series A redeemable convertible preferred stock dividends	215,089			195,366			419,664			387,974
Less: Accretion to redemption value of Series A redeemable convertible preferred stock	—			170,981			—			334,650
Net loss attributable to common stockholders	$	(854,890	)	$	(3,901,229	)	$	(2,171,662	)	$	(8,554,118	)
Denominator
Weighted average basic shares outstanding	44,440,751			43,159,285			44,265,525			42,521,018
Effect of dilutive securities:
Stock options and restricted stock	—			—			—			—
Series A redeemable convertible preferred stock	—			—			—			—
Weighted average diluted shares outstanding	44,440,751			43,159,285			44,265,525			42,521,018
EPS
Basic net loss per share attributable to common stockholders	$	(0.02	)	$	(0.09	)	$	(0.05	)	$	(0.20	)
Diluted net loss per share attributable to common stockholders	$	(0.02	)	$	(0.09	)	$	(0.05	)	$	(0.20	)