Note 12: Net (Loss) Income Per Common Share

Basic and diluted net (loss) income per share attributable to common shareholders is computed by dividing net (loss) income by the weighted average number of common shares outstanding after subtracting the weighted average of unvested restricted shares outstanding, as these shares are subject to repurchase. There were no dilutive effects from any equity instruments for periods presented reflecting a net loss, therefore diluted net loss per share was the same as basic net loss for periods that reflect a net loss.

Diluted net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding after subtracting the weighted average of any unvested restricted shares outstanding and adding any potentially dilutive common equivalent shares outstanding during the period, if dilutive. Potentially dilutive common equivalent shares are composed of the incremental common shares issuable upon the exercise of warrants for common stock and the potential conversion of preferred shares to common shares, none of which were outstanding prior to January 30, 2014. There were no dilutive effects for the three and nine months ended September 30, 2015 as the Company reported a net loss attributable to common shareholders for the periods.

The following table presents the calculation of basic net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended September 30, 2015			Three Months ended September 30, 2014			Nine Months ended September 30, 2015			Nine Months ended September 30, 2014
Numerator for basic and diluted net (loss) income per share:
Net (loss) income	$	(3,919	)	$	(1,299	)	$	(71,901	)	$	12,643
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(13,248	)		—
Net (loss) income attributable to common shareholders	$	(8,419	)	$	(1,299	)	$	(85,149	)	$	3,188
Denominator for basic net (loss) income per share:
Weighted-average shares outstanding		206,168,035			202,343,245			204,307,431			202,163,250
Weighted-average unvested restricted shares outstanding		(4,197,396	)		(1,343,764	)		(2,636,314	)		(1,336,982	)
Denominator for basic net (loss) income per share:		201,970,639			200,999,481			201,671,117			200,826,268
Basic net (loss) income per share attributable to common shareholders	$	(0.04	)	$	(0.01	)	$	(0.42	)	$	0.02

The following table presents the calculation of diluted net (loss) income per share for periods presented:

(in thousands, except per share data):

	Three Months ended September 30, 2015			Three Months ended September 30, 2014			Nine Months ended September 30, 2015			Nine Months ended September 30, 2014
Numerator for basic and diluted net (loss) income per share:
Net (loss) income	$	(3,919	)	$	(1,299	)	$	(71,901	)	$	12,643
Preferred deemed dividend		—			—			—			(9,455	)
Series B preferred stock dividends		(4,500	)		—			(13,248	)		—
Net (loss) income attributable to common shareholders	$	(8,419	)	$	(1,299	)	$	(85,149	)	$	3,188
Denominator for diluted net (loss) income per share:
Weighted-average shares outstanding		206,168,035			202,343,245			204,307,431			202,163,250
Weighted-average unvested restricted shares outstanding		(4,197,396	)		(1,343,764	)		(2,636,314	)		(1,336,982	)
Effect of dilutive potential shares *		—			—			—			37,045,988
Denominator for diluted net (loss) income per share:		201,970,639			200,999,481			201,671,117			237,872,256
Diluted net (loss) income per share attributable to common shareholders	$	(0.04	)	$	(0.01	)	$	(0.42	)	$	0.01

*There were no dilutive effects from any equity instruments for periods presented which did not have net income, therefore diluted net (loss) income per share was the same as basic net (loss) income for periods presented which reflect a net loss.