• Filing Date: 2019-05-14
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v3.19.1
G. LOSS PER COMMON SHARE
6 Months Ended
Mar. 31, 2019
Net loss per common share  
G. LOSS PER COMMON SHARE

The following tables provide the details of the basic and diluted loss per-share computations:

 

    Six months ended March 31,     Three months ended March 31,  
    2019     2018     2019     2018  
Loss per share - basic                        
Net loss available to common shareholders - basic   $ (5,201,779 )   $ (10,895,965 )   $ (6,447,681 )   $ (4,708,135 )
Weighted average shares outstanding - basic     28,543,417       13,403,878       29,113,910       15,210,296  
Basic loss per common share   $ (0.18 )   $ (0.81 )   $ (0.22 )   $ ( 0.31 )
                                 
Loss per share - diluted                                
Net loss available to common shareholders - basic   $ (5,201,779 )   $ (10,895,965 )   $ (6,447,681 )   $ (4,708,135 )
Gain on derivatives (1)     (335,560 )     -       -       -  
Net loss available to common shareholders - diluted   $ (5,537,339 )   $ (10,895,965 )   $ (6,447,681 )   $ (4,708,135 )
                                 
Weighted average shares outstanding - basic     28,543,417       13,403,878       29,113,910       15,210,296  
Incremental shares underlying dilutive "in the money" warrants (1)     5,401       -       -       -  
Weighted average shares outstanding - diluted     28,548,818       13,403,878       29,113,910       15,210,296  
Diluted loss per common share   $ (0.19 )   $ (0.81 )   $ (0.22 )   $ (0.31 )
                                 

 

(1) Includes series GG, II and KK for the six months ended March 31, 2019.

 

The gain on derivatives priced lower than the average market price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share.

 

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of March 31:

 

  2019 2018
     
Options and Warrants 10,576,881  12,381,730
Unvested Restricted Stock    308,500    312,000
Convertible debt    -      1,077,982
Total 10,885,381  13,771,712