Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share (Tables)

v2.4.0.8
Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2014
Net Income (Loss) Per Share [Abstract]  
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 six months ended June 30, 2014 and 2013;

  

    Three months ended     Six months ended  
    June 30,     June 30,  
    2014     2013     2014     2013  
             
Numerator:                                
Net profit (loss) used to compute net loss per share                                
Basic   $ 56,126,982     $ (3,399,956 )   $ (25,638,377 )   $ (7,196,710 )
Adjustments for change in fair value of warrant liability     (60,457,700 )             -          
Diluted   $ (4,330,718 )   $ (3,399,956 )   $ (25,638,377 )   $ (7,196,710 )
                                 
Denominator:                                
Weighted-average common shares outstanding used in computing basic net income (loss) per share                                
Basic     78,497,558       21,080,414       72,688,073       20,861,127  
Dilutive effect of warrants     9,593,643                          
Dilutive effect of stock options     6,681,210                          
Diluted     94,772,411       21,080,414       72,688,073       20,861,127  
                                 
Net income (loss) per share, basic   $ 0.72     $ (0.16 )   $ (0.35 )   $ (0.34 )
Net income (loss) per share, diluted   $ (0.05 )   $ (0.16 )   $ (0.35 )   $ (0.34 )

 

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:

  

    Three months ended     Six months ended  
    June 30,     June 30,  
    2014     2013     2014     2013  
                         
Options to purchase common stock             3,823,978       7,073,652       3,823,978  
Warrants             -       14,546,085       -  
Total common stock equivalents             3,823,978       21,619,737       3,823,978