Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2021
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, 2021 and 2020 was determined as follows (in thousands, except share and per share amounts):

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net (loss) income

$

(605

)

 

$

909

 

 

$

(3,623

)

 

$

(12,474

)

Dilutive effect of convertible debt

 

(988

)

 

 

 

 

 

 

 

 

 

Dilutive effect of warrant liability

 

 

 

 

(4,649

)

 

 

(15,719

)

 

 

(2,917

)

Net loss allocated to common shares

$

(1,593

)

 

$

(3,740

)

 

$

(19,342

)

 

$

(15,391

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

26,616,628

 

 

 

10,627,618

 

 

 

26,147,658

 

 

 

10,129,098

 

Dilutive effect of stock options and restricted stock units

 

 

 

 

1,058

 

 

 

 

 

 

 

Dilutive effect of convertible debt

 

1,138,200

 

 

 

 

 

 

 

 

 

 

Dilutive effect of warrant liability

 

 

 

 

2,760,338

 

 

 

178,348

 

 

 

1,091,704

 

Weighted average common shares outstanding – diluted

 

27,754,828

 

 

 

13,389,014

 

 

 

26,326,006

 

 

 

11,220,802

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share – diluted

$

(0.06

)

 

$

(0.28

)

 

$

(0.73

)

 

$

(1.37

)

 

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, 2021 and 2020, as the result would be anti-dilutive:

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Outstanding stock options

 

1,643,506

 

 

 

808,855

 

 

 

1,643,506

 

 

 

817,855

 

Outstanding restricted stock units

 

149,134

 

 

 

80,137

 

 

 

149,134

 

 

 

80,137

 

Warrants to purchase common stock associated with June 2016 public offering

 

 

 

 

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

 

Warrants to purchase common stock associated with December 2019 Public Offering

 

4,472,205

 

 

 

4,472,205

 

 

 

4,472,205

 

 

 

4,472,205

 

Warrants to purchase common stock associated with December 2020 Public Offering - Series 1

 

6,439,866

 

 

 

 

 

 

 

 

 

 

Warrants to purchase common stock associated with December 2020 Public Offering - Series 2

 

6,800,000

 

 

 

 

 

 

6,800,000

 

 

 

 

Warrants to purchase common stock associated with Loan Agreement

 

170,410

 

 

 

 

 

 

170,410

 

 

 

 

Warrants to purchase common stock associated with Solar loan agreement

 

 

 

 

12,243

 

 

 

 

 

 

12,243

 

Common stock associated with March 2019 Notes

 

 

 

 

 

 

 

1,138,200

 

 

 

1,138,200

 

Total

 

20,473,931

 

 

 

6,594,117

 

 

 

15,172,265

 

 

 

7,741,317