Quarterly report pursuant to Section 13 or 15(d)

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

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

3 Months Ended

Mar. 31, 2015

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 March 31, 2015
	Net Loss (Numerator)			Shares (Denominator)		Per share amount
Basic loss per share	$	(1,116,155	)		64,269,818	$	(0.02	)
Effect of dilutive securities—Common stock options and warrants		-			-		-
Diluted loss per share	$	(1,116,155	)		64,269,818	$	(0.02	)

	Three-months ended March 31, 2014
	Net Loss (Numerator)			Shares (Denominator)		Per share amount
Basic loss per share	$	(11,284,929	)		50,346,094	$	(0.22	)
Effect of dilutive securities—Common stock options and warrants		-			-		-
Diluted loss per share	$	(11,284,929	)		50,346,094	$	(0.22	)

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:

	March 31, 2015		March 31, 2014
Common stock options		27,752,315		18,980,238
Common stock warrants		31,781,610		28,405,782
Total common stock equivalents		59,533,925		47,386,020