| Schedule of Basic and Diluted Net Income (Loss) Per Share |
The following table is a reconciliation of the numerators and denominators used in the calculation of basic and diluted net loss per share computations for the three and nine months ended September 30, 2014 and 2013;
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Three months ended
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Nine months ended
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|
September 30,
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September 30,
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|
2014 |
|
|
2013 |
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|
2014 |
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|
2013 |
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| Numerator: |
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| Net income (loss) used to compute net income (loss) per share |
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| Basic |
|
$ |
12,024,361 |
|
|
$ |
(1,893,924 |
) |
|
$ |
(13,614,016 |
) |
|
$ |
(9,090,634 |
) |
| Less gain on change in fair value of warrant liability |
|
|
(15,773,100 |
) |
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|
– |
|
|
|
– |
|
|
|
– |
|
| Diluted, as adjusted |
|
$ |
(3,748,739 |
) |
|
$ |
(1,893,924 |
) |
|
$ |
(13,614,016 |
) |
|
$ |
(9,090,634 |
) |
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| Denominator: |
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| Weighted-average common shares outstanding used in computing basic net income (loss) per share |
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| Basic |
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|
78,513,144 |
|
|
|
21,085,283 |
|
|
|
74,943,169 |
|
|
|
20,937,488 |
|
| Dilutive effect of warrants |
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|
750,653 |
|
|
|
– |
|
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|
– |
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|
|
– |
|
| Dilutive effect of stock options |
|
|
4,072,574 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Diluted, as adjusted |
|
|
83,336,371 |
|
|
|
21,085,283 |
|
|
|
74,943,169 |
|
|
|
20,937,488 |
|
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| Net income (loss) per share, basic |
|
$ |
0.15 |
|
|
$ |
(0.09 |
) |
|
$ |
(0.18 |
) |
|
$ |
(0.43 |
) |
| Net loss per share, diluted |
|
$ |
(0.04 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.18 |
) |
|
$ |
(0.43 |
) |
|
| Schedule of Antidilutive Securities |
The following potential common shares and warrants outstanding were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive:
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|
Three months ended
|
|
|
Nine months ended
|
|
| |
|
September 30,
|
|
|
September 30,
|
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
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|
|
|
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|
|
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| Options to purchase common stock |
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|
– |
|
|
|
7,335,135 |
|
|
|
3,724,529 |
|
|
|
7,335,135 |
|
| Warrants |
|
|
– |
|
|
|
– |
|
|
|
8,407,084 |
|
|
|
– |
|
| Total common stock equivalents |
|
|
– |
|
|
|
7,335,135 |
|
|
|
12,131,613 |
|
|
|
7,335,135 |
|
|