• Filing Date: 2020-05-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.20.1
LOSS PER SHARE
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
LOSS PER SHARE

The following table provides information relating to the calculation of loss per common share:

 

    Three Months Ended March 31,  
    2020     2019  
Basic and diluted loss per share            
    Net loss from continuing operations   $ (3,774 )   $ (2,518 )
    Less: preferred stock accretion     (206 )     (179 )
    Less: preferred stock dividends     (115 )     (115 )
        Net loss attributable to shareholders from continuing operations     (4,095 )     (2,812 )
Net loss from held for sale and discontinued operations     (14 )     (357 )
Net loss attributable to shareholders   $ (4,109 )   $ (3,169 )
    Weighted average common shares outstanding - basic and diluted     21,929,768       18,800,496  
        Basic and diluted loss per share from continuing operations   $ (0.19 )   $ (0.15 )
        Basic and diluted loss per share from held for sale and discontinued operations     -       (0.02 )
Basic and diluted loss per share   $ (0.19 )   $ (0.17 )
            Common stock equivalents excluded due to anti-dilutive effect     5,293,838       6,316,157  

 

As the Company had a net loss for the three months ended March 31, 2020, the following 5,293,838 potentially dilutive securities were excluded from diluted loss per share: 1,846,870 for outstanding warrants, 974,487 related to the Series A Preferred Stock, 481,722 related to the Series B Preferred Stock, 1,656,309 related to outstanding options and 334,450 related to outstanding RSUs.

 

As the Company had a net loss for the three months ended March 31, 2019, the following 6,316,157 potentially dilutive securities were excluded from diluted loss per share: 3,714,491 for outstanding warrants, 974,487 related to the Series A Preferred Stock, 481,722 related to the Series B Preferred Stock and 1,145,457 related to outstanding options. 

 

(Loss) Earnings Per Share under Two – Class Method

 

The Series A Preferred Stock and Series B Preferred Stock have the non-forfeitable right to participate on an as converted basis at the conversion rate then in effect in any common stock dividends declared and, as such, is considered a participating security. The Series A Preferred Stock and Series B Preferred Stock are included in the computation of basic and diluted loss per share pursuant to the two-class method. Holders of the Series A Preferred Stock and Series B Preferred Stock do not participate in undistributed net losses because they are not contractually obligated to do so.