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 | ) |
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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 | |
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