Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Income (Loss) Per Share (Tables)

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Basic and Diluted Net Income (Loss) Per Share (Tables)
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (Loss)

The following tables set forth the computation of the Company’s basic and diluted net income (loss) per share for the three-months ended:

 

    Three-months ended September 30, 2015  
    Net Loss (Numerator)     Shares (Denominator)     Per share amount  
Basic loss per share   $ (743,461 )     67,955,379     $ (0.01 )
Effect of dilutive securities—Common stock options and warrants     -       -       -  
Diluted loss per share   $ (743,461 )     67,955,379     $ (0.01 )

 

    Three-months ended September 30, 2014  
    Net Loss (Numerator)     Shares (Denominator)     Per share amount  
Basic loss per share   $ (1,880,394 )     63,610,949     $ (0.03 )
Effect of dilutive securities—Common stock options and warrants     -       -       -  
Diluted loss per share   $ (1,880,394 )     63,610,949     $ (0.03 )

 

 The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share for the nine-months ended:

 

    Nine-months ended September 30, 2015  
    Net Loss (Numerator)     Shares (Denominator)     Per share amount  
Basic loss per share   $ (2,443,881 )     66,000,101     $ (0.04 )
Effect of dilutive securities—Common stock options and warrants     -       -       -  
Diluted loss per share   $ (2,443,881 )     66,000,101     $ (0.04 )

 

    Nine-months ended September 30, 2014  
    Net Loss (Numerator)     Shares (Denominator)     Per share amount  
Basic loss per share   $ (15,186,393 )     59,019,453     $ (0.26 )
Effect of dilutive securities—Common stock options and warrants     -       -       -  
Diluted loss per share   $ (15,186,393 )     59,019,453     $ (0.26 )

Schedule of Computation of Diluted Net Income (Loss) Per Share

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the years presented because including them would have been antidilutive for the years ended:

 

    September 30, 2015     September 30, 2014  
Common stock options     33,118,044       23,762,946  
Common stock warrants     41,871,124       28,405,782  
Total common stock equivalents     74,989,168       52,168,728