Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Share of Common Stock

v3.21.2
Net Loss per Share of Common Stock
9 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
Net Loss per Share of Common Stock

Note 9 – Net Loss per Share of Common Stock

 

Basic net loss per share is computed by dividing net loss by the weighted average common shares outstanding and vested RSUs. Diluted net loss per share is computed by dividing net loss by the diluted weighted average common shares outstanding, which includes potentially dilutive effect of stock options, unvested RSAs, unvested RSUs, warrants and previously outstanding senior convertible notes. Since we experienced a loss for all periods presented, basic and diluted net loss per share are the same and, as they would have an anti-dilutive impact on diluted net loss per share, any dilutive common shares outstanding were excluded from the computation shown below. The treasury-stock method is used to determine the dilutive effect of our stock options and warrants, and the if-converted method is used to determine the dilutive effect of the Senior Notes.

 

The computation of net loss per share for the three and nine months ended September 30, 2021 and 2020 was as follows: 

 

    2021     2020     2021     2020  
    Three months ended
September 30,
   

Nine months ended

September 30,

 
    2021     2020     2021     2020  
Basic and diluted net loss per share:                                
Net loss   $ (2,987,217 )   $ (3,071,285 )   $ (8,243,740 )   $ (4,679,035 )
Weighted average number of common shares-basic and diluted     15,531,442       5,594,370       15,177,306       5,542,026  
                                 
Basic and diluted net loss per share   $ (0.19 )   $ (0.55 )   $ (0.54 )   $ (0.84 )

 

The following potentially dilutive securities were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive for the periods presented.

 

    Nine months ended September 30,  
    2021     2020  
Stock options, unvested RSAs, unvested RSUs and purchase warrants     844,394       814,285  
Senior convertible notes and convertible related party LOC, plus related accrued interest     -       442,824