| LOSS PER SHARE |
In
accordance with ASC 260-10, basic net income (loss) per share
is computed by dividing the net income (loss) to common stockholders for the period by the weighted average number of common shares
outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period
by the weighted average number of common and dilutive common equivalent shares outstanding during the period. For the three and
six-month periods ended March 31, 2018 and 2017, the Company has excluded all common equivalent shares from the calculation of
diluted net loss per share as such securities are anti-dilutive.
A
summary of the net income (loss) and shares used to compute net income (loss) per share for the three and six-month periods ended
March 31, 2018 and 2017 is as follows:
| |
Three
Months Ended March 31, |
| |
2018 |
|
2017 |
| Net loss for computation of basic and diluted
net loss per share: |
|
|
|
| Net loss |
$ |
(2,659,600 |
) |
|
$ |
(1,452,000 |
) |
| Basic and diluted net loss per share: |
|
|
|
| Basic and diluted net loss per share |
$ |
(0.61 |
) |
|
$ |
(0.61 |
) |
| Basic and diluted
weighted average shares outstanding |
4,362,564 |
|
|
2,372,394 |
|
| |
|
|
|
| Anti-dilutive common equivalent shares not included
in the computation of dilutive net loss per share: |
|
|
|
| Warrants |
5,617,481 |
|
|
7,032 |
|
| Restricted common
stock |
280,250 |
|
|
143,750 |
|
| Options |
544,059 |
|
|
334,428 |
|
| Total warrants
and options |
6,451,790 |
|
|
485,210 |
|
| |
Six
Months Ended March 31, |
| |
2018 |
|
2017 |
| Net loss for computation of basic and diluted
net loss per share: |
|
|
|
| Net loss |
$ |
(5,429,000 |
) |
|
$ |
(2,892,200 |
) |
| Basic and diluted net loss per share: |
|
|
|
| Basic and diluted net loss per share |
$ |
(1.25 |
) |
|
$ |
(1.29 |
) |
| Basic and diluted
weighted average shares outstanding |
4,347,745 |
|
|
2,236,728 |
|
| |
|
|
|
| Anti-dilutive common equivalent shares not included
in the computation of dilutive net loss per share: |
|
|
|
| Warrants |
5,617,481 |
|
|
7,093 |
|
| Restricted common
stock |
280,250 |
|
|
143,750 |
|
| Options |
554,059 |
|
|
329,766 |
|
| Total warrants
and options |
6,451,790 |
|
|
480,609 |
|
|