Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

v3.10.0.1
Earnings (Loss) Per Share
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
EARNINGS (LOSS) PER SHARE
Basic loss per share is computed by dividing our net loss by the weighted average number of shares outstanding during the period. For diluted earnings per share, the dilutive impact of stock options and warrants is determined by applying the “treasury stock” method. The dilutive impact of the 2033 Senior Notes and 2023 Convertible Notes (each, as defined herein) has been considered using the “if converted” method. In the periods in which their effect would be antidilutive, no effect has been given to outstanding options, warrants or the potentially dilutive shares issuable pursuant to the 2033 Senior Notes and 2023 Convertible Notes (discussed in Note 6) in the dilutive computation. The following table sets forth the computation of basic and diluted loss per share:
 
For the three months ended June 30,
 
For the six months ended June 30,
(In thousands, except per share data)
2018
 
2017
 
2018
 
2017
Numerator
 
 
 
 
 
 
 
Net loss, basic
$
(6,201
)
 
$
(16,916
)
 
$
(49,315
)
 
$
(51,419
)
  Add: Interest on 2033 Senior Notes

 
652

 

 
1,291

  Change in FV of embedded derivative income

 
(5,069
)
 

 
(10,014
)
Net loss, diluted
$
(6,201
)
 
$
(21,333
)
 
$
(49,315
)
 
$
(60,142
)
 
 
 
 
 
 
 
 
Denominator
 
 
 
 
 
 
 
(Shares in thousands)
 
 
 
 
 
 
 
Weighted average common shares outstanding, basic
559,541

 
559,348

 
559,508

 
558,892

Effect of dilutive securities:
 
 
 
 
 
 
 
  Stock options

 

 

 

  Warrants

 

 

 

  2033 Senior Notes

 
4,816

 

 
4,725

     Dilutive potential shares

 
4,816

 

 
4,725

Weighted average common shares outstanding, diluted
559,541

 
564,164

 
559,508

 
563,617

 
 
 
 
 
 
 
 
Loss per share, basic
$
(0.01
)
 
$
(0.03
)
 
$
(0.09
)
 
$
(0.09
)
Loss per share, diluted
$
(0.01
)
 
$
(0.04
)
 
$
(0.09
)
 
$
(0.11
)

A total of 16,520,314 and 16,545,495 potential shares of Common Stock have been excluded from the calculation of diluted net loss per share for three and six months ended June 30, 2018, respectively, because their inclusion would be antidilutive.
During the three months ended June 30, 2018, 332,000 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 145,677 shares of Common Stock. Of the 332,000 Common Stock options and Common Stock warrants exercised, 186,323 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.
During the six months ended June 30, 2018, 332,000 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 145,677 shares of Common Stock. Of the 332,000 Common Stock options and Common Stock warrants exercised, 186,323 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.
During the three months ended June 30, 2017, 539,500 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 351,625 shares of Common Stock. Of the 539,500 Common Stock options and Common Stock warrants exercised, 187,875 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.
During the six months ended June 30, 2017, 1,646,372 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 1,373,515 shares of Common Stock. Of the 1,646,372 Common Stock options and Common Stock warrants exercised, 272,857 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.