NET LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2021

Basic income and diluted loss per common share - see Note 3:

NET LOSS PER COMMON SHARE

Basic loss per common share is calculated by dividing net loss available to common shareholders for the period by the weighted-average number of common shares outstanding during the period. Diluted loss per common share is calculated by dividing net loss available to common shareholders for the period by the weighted-average number of common shares outstanding during the period, adjusted to include, if dilutive, potential dilutive shares consisting of convertible preferred stock, convertible related party lines of credit, stock options and warrants, calculated using the treasury stock and if-converted methods. For diluted loss per share calculation purposes, the net loss available to common shareholders is adjusted to add back any preferred stock dividends and any interest on convertible debt reflected in the condensed consolidated statement of operations for the respective periods.

The table below presents the computation of basic and diluted loss per share: 

(Amounts in thousands except share and per share amounts)	Three Months Ended March 31,
	2021			2020
Numerator for basic and diluted loss per share:
Net loss	$	(1,885	)	$	(3,124	)
Preferred dividends preferred stock discount accretion		(2,255	)		(1,374	)
Net loss available to common shareholders	$	(4,140	)	$	(4,498	)
Denominator for basic and dilutive loss per share — weighted-average shares outstanding		245,829,914			116,196,197
Basic and diluted loss per share available to common shareholders	$	(0.02	)	$	(0.04	)

The following potential dilutive securities have been excluded from the computations of diluted weighted-average shares outstanding, as their effect would have been antidilutive: 

Potential Dilutive Securities:	Common Share Equivalents at March 31, 2021		Common Share Equivalents at December 31, 2020
Convertible redeemable preferred stock – Series A		30,743,500		74,555,000
Convertible redeemable preferred stock – Series A-1		29,610,000		73,910,000
Convertible redeemable preferred stock – Series B		46,980		46,029
Convertible redeemable preferred stock – Series D		390,348,199		392,166,023
Stock options		2,574,669		2,585,500
Restricted stock units (RSUs)		618,004		845,106
Warrants		393,589		753,775
Total Potential Dilutive Securities		454,334,941		544,861,433