Basic and Diluted Loss Per Common Share

9 Months Ended

Sep. 30, 2015

Basic and Diluted Loss Per Common Share [Abstract]

Basic and Diluted Loss Per Common Share

3. Basic and Diluted Loss per Common Share

Basic loss per share is based on the weighted average number of outstanding common shares for the period.  Diluted loss per share adjusts the weighted average shares outstanding for the potential dilution that could occur if stock options were exercised into common stock.

The number of common shares and common share equivalents used in the determination of basic and diluted loss per share were as follows:

(in thousands, except for share amounts)	Three Months ended						Nine Months ended
	September 30,						September 30,
	2015			2014			2015			2014
Numerator:
Net loss	$	(3,555	)	$	(1,895	)	$	(5,566	)	$	(5,905	)
Denominator:
Weighted-average shares outstanding for basic earnings per share		17,894,272			17,887,859			17,890,020			17,887,859
Effect of dilutive securities:
Employee stock options		-			-			-			-
Adjusted weighted-average shares outstanding and assumed conversions for diluted earnings per share		17,894,272			17,887,859			17,890,020			17,887,859
Shares related to dilutive securities excluded because inclusion would be anti-dilutive		2,513,321			2,736,703			2,548,401			2,730,558