Under the provisions of ASC 260, “Earnings Per Share,” basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding for the periods presented. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the income of the Company, subject to anti-dilution limitations. The common stock equivalents have not been included as they are anti-dilutive. As of June 30, 2017, there were opti ons outstanding for the purchase of 50,908 common shares, warrants for the purchase of 5,127,416 common shares, 2,825,053 shares of our common stock issuable upon the conversion of Series A, Series C and Series D Convertible Preferred Stock and up to 332,940 shares of our common stock issuable upon the exercise of placement agent warrants, all of which could potentially dilute future earnings per share.  Total outstanding common stock equivalents at June 30, 2017 were 6,527,268.

 

As of June 30, 2016, there were options outstanding for the purchase of 56,610 common shares, warrants for the purchase of 758,403 common shares, an unknown number of shares issuable upon the conversion of Series A, Series C and Series D Convertible Preferred Stock and up to 41,538 shares of our common stock issuable upon the exercise of placement agent warrants, all of which could potentially dilute future earnings per share. Total outstanding common stock equivalents at June 30, 2016 were 772,833.

 

Diluted common shares outstanding were calculated using the Treasury Stock Method for the three months ended June 30, 2017 and 2016 were as follows:

 

      June 30, 2017       June 30, 2016  
Weighted average number of common shares used in basic net income per common share     3,844,840       1,339,484  
Dilutive effects of outstanding stock options and warrants     125,482       440,166  
Weighted average number of common shares used in diluted net income per common share     3,970,322       1,779,650  

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Entry into a Material Definitive - Nov. 3, 2017

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