Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Diluted Net Loss Per Common Share Diluted net loss per common share for the three and nine months ended September 30, 2020 and 2019 was determined as follows (in thousands, except share and per share amounts):

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income (loss)

$

909

 

 

$

(7,941

)

 

$

(12,474

)

 

$

(39,252

)

Dilutive effect of convertible debt

 

(4,649

)

 

 

(1,815

)

 

 

(2,917

)

 

 

 

Net loss allocated to common shares

$

(3,740

)

 

$

(9,756

)

 

$

(15,391

)

 

$

(39,252

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

10,627,618

 

 

 

5,569,739

 

 

 

10,129,098

 

 

 

5,278,757

 

Dilutive effect of stock options and restricted stock units

 

1,058

 

 

 

 

 

 

 

 

 

 

Dilutive effect of convertible debt

 

2,760,338

 

 

 

1,138,200

 

 

 

1,091,704

 

 

 

 

Weighted average common shares outstanding – diluted

 

13,389,014

 

 

 

6,707,939

 

 

 

11,220,802

 

 

 

5,278,757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share – diluted

$

(0.28

)

 

$

(1.45

)

 

$

(1.37

)

 

$

(7.44

)

Summary of Antidilutive Securities Excluded from Computation of Weighted Average Common Stock Outstanding

The following potentially dilutive shares of common stock have not been included in the computation of diluted net loss per share for the three and nine months ended September 30, 2020 and 2019, as the result would be anti-dilutive:

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Warrants to purchase common stock associated with Solar loan agreement

 

12,243

 

 

 

12,243

 

 

 

12,243

 

 

 

12,243

 

Warrants to purchase common stock associated with June 2016 public offering

 

421,867

 

 

 

421,867

 

 

 

421,867

 

 

 

421,867

 

Warrants to purchase common stock associated with March 2018 public offering – Series 2

 

798,810

 

 

 

798,810

 

 

 

798,810

 

 

 

798,810

 

Outstanding stock options

 

808,855

 

 

 

518,870

 

 

 

817,855

 

 

 

518,870

 

Outstanding restricted stock units

 

80,137

 

 

 

96,762

 

 

 

80,137

 

 

 

96,762

 

Common stock associated with March 2019 Notes

 

 

 

 

 

 

 

1,138,200

 

 

 

1,138,200

 

Warrants to purchase common stock associated with December 2019 Public Offering

 

4,472,205

 

 

 

 

 

 

4,472,205

 

 

 

 

Total

 

6,594,117

 

 

 

1,848,552

 

 

 

7,741,317

 

 

 

2,986,752