Annual report pursuant to Section 13 and 15(d)

Net Loss Per Share

Net Loss Per Share

12 Months Ended

Dec. 31, 2016

13. Net Loss per Share

The Company accounts for and discloses net loss per common share in accordance with FASB ASC Topic 260, Earnings Per Share. Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common stock for all potential dilutive common shares outstanding. Potential common shares consist of shares issuable upon the exercise of stock options and warrants.

The following table sets forth the computation of basic and diluted net loss per share (amounts in thousands, except per share amounts):

	For the year ended:
	2016			2015			2014
Numerator:
Net loss attributable to common shareholders	$	(74,874	)	$	(50,122	)	$	(99	)
Adjustment for change in fair value of derivative liability		(2,603	)		-			(2,228	)
Net loss attributable to common shareholders, as adjusted	$	(77,477	)	$	(50,122	)	$	(2,327	)

Denominator:
Weighted average shares outstanding used to compute net loss per share:
Basic		705,529			630,316			326,779
Adjustment for dilutive effects of warrants		471			-			954
Diluted		706,000			630,316			327,733

Net loss per share
Basic	$	(0.11	)	$	(0.08	)	$	(0.00	)
Diluted	$	(0.11	)	$	(0.08	)	$	(0.01	)

The following table sets forth the number of potential common shares excluded from the calculations of net loss per diluted share because their inclusion would be anti-dilutive (in thousands):

	For the year ended December 31,
	2016		2015		2014
Options to purchase common stock		24,351		43,071		19,600
Warrants to purchase common stock		-		8,280		16,669
Total		24,351		51,351		36,269