Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share of Common Stock (Tables)

v3.20.2
Net Income (Loss) Per Share of Common Stock (Tables)
9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted income (Loss) Per Share for Common Stockholders
The following table sets forth the computation of basic and diluted net
income
 
(loss) per share for common stockholders:
 
    
Three Months Ended September 30,
    
Nine Months Ended September 30,
 
    
        2020        
    
        2019        
    
        2020        
    
        2019        
 
Net income (loss) – basic
   $ 3,444,431      $ (5,359,118    $ (21,751,291    $ (2,439,009
Less: decrease in fair value of 2020 Warrants, net of tax
     (8,826,913      —          —          —    
  
 
 
    
 
 
    
 
 
    
 
 
 
Net loss – diluted
   $ (5,382,482    $ (5,359,118    $ (21,751,291    $ (2,439,009
Shares used in computing basic net income (loss) income per share
     27,809,169        7,940,931        21,069,057        7,940,931  
Plus: dilutive effect of 2020 Warrants
     1,269,938        —          —          —    
  
 
 
    
 
 
    
 
 
    
 
 
 
Shares used in computing diluted net loss per share
     29,079,107        7,940,931        21,069,057        7,940,931  
  
 
 
    
 
 
    
 
 
    
 
 
 
Basic net income (loss) per share
   $ 0.12      $ (0.67    $ (1.03    $ (0.31
Diluted net loss per share
   $ (0.19    $ (0.67    $ (1.03    $ (0.31
  
 
 
    
 
 
    
 
 
    
 
 
 
Schedule of Antidilutive Securities Excluded from Computation of Diluted Weighted Average Shares Outstanding
The following table sets forth the potentially dilutive securities outstanding for the three and nine months ended September 30, 2020 and 2019 that were excluded from the computation of diluted weighted average shares outstanding:
 
    
Three Months Ended September 30,
    
Nine Months Ended September 30,
 
  
        2020        
    
        2019        
    
        2020        
    
        2019        
 
Options to purchase common stock
     1,864,631        1,246,580        1,864,631        1,246,580  
Warrants to purchase common stock
     3,006,499        3,033,905        12,354,580        3,033,905  
  
 
 
    
 
 
    
 
 
    
 
 
 
Total
     4,871,130        4,280,485        14,219,211        4,280,485