Net loss per common share
The Company complies with accounting and disclosure requirements of Financial Accounting Standards Board issued Accounting Standards Update (FASB ASC) 260, Earnings Per Share. Net loss per common share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. Because the Company reported a net loss in all periods presented, the warrants to purchase 4,000,000 shares of common stock issued in connection with the Offering have not been included in the diluted net loss per share since these securities would reduce the loss per common share and become anti-dilutive. As a result, diluted loss per common share is the same as basic loss per common share for each period.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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