| Loss Per Share |
Note 12. Loss Per Share
The calculation of basic and diluted loss per share was as follows:
|
|
|
Three Months Ended April 30, |
|
|
Six Months Ended April 30, |
|
|
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
Numerator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(13,174 |
) |
|
$ |
(13,238 |
) |
|
$ |
(17,357 |
) |
|
$ |
(26,923 |
) |
|
Series C preferred stock deemed dividends |
|
|
(4,199 |
) |
|
|
— |
|
|
|
(7,662 |
) |
|
|
— |
|
|
Series B preferred stock dividends |
|
|
(800 |
) |
|
|
(800 |
) |
|
|
(1,600 |
) |
|
|
(1,600 |
) |
|
Net loss attributable to common stockholders |
|
$ |
(18,173 |
) |
|
$ |
(14,038 |
) |
|
$ |
(26,619 |
) |
|
$ |
(28,523 |
) |
|
Denominator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average basic common shares |
|
|
79,563,265 |
|
|
|
42,568,818 |
|
|
|
75,731,565 |
|
|
|
40,049,948 |
|
|
Effect of dilutive securities (1) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Weighted average diluted common shares |
|
|
79,563,265 |
|
|
|
42,568,818 |
|
|
|
75,731,565 |
|
|
|
40,049,948 |
|
|
Basic loss per share |
|
$ |
(0.23 |
) |
|
$ |
(0.33 |
) |
|
$ |
(0.35 |
) |
|
$ |
(0.71 |
) |
|
Diluted loss per share (1) |
|
$ |
(0.23 |
) |
|
$ |
(0.33 |
) |
|
$ |
(0.35 |
) |
|
$ |
(0.71 |
) |
|
(1) |
Due to the net loss to common stockholders in each of the periods presented above, diluted loss per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. As of April 30, 2018 and 2017, potentially dilutive securities excluded from the diluted loss per share calculation are as follows: |
|
|
|
April 30, |
|
|
April 30, |
|
|
|
|
2018 |
|
|
2017 |
|
|
May 2017 Offering - Series C Warrants |
|
|
11,569,364 |
|
|
|
— |
|
|
July 2016 Offering - Series A Warrants |
|
|
7,680,000 |
|
|
|
7,680,000 |
|
|
July 2014 Offering - NRG Warrant |
|
|
— |
|
|
|
166,666 |
|
|
Outstanding options to purchase common stock |
|
|
327,890 |
|
|
|
214,383 |
|
|
Unvested Restricted Stock Awards |
|
|
1,185,457 |
|
|
|
1,986,732 |
|
|
Series C Preferred Shares to satisfy conversion requirements (1) |
|
|
7,906,783 |
|
|
|
— |
|
|
5% Series B Cumulative Convertible Preferred Stock |
|
|
454,043 |
|
|
|
454,043 |
|
|
Series 1 Preferred Shares to satisfy conversion requirements |
|
|
15,166 |
|
|
|
15,166 |
|
|
Total potentially dilutive securities |
|
|
29,138,703 |
|
|
|
10,516,990 |
|
|
(1) |
The number of shares of common stock issuable upon conversion of the Series C Preferred Stock was calculated using the stated value outstanding on April 30, 2018 of $14.5 million (original stated value of $33.5 million less the stated value of conversions to date through April 30, 2018 totaling $19.0 million) divided by the conversion price of $1.84. The actual number of shares issued could vary depending on the actual market price of the Company’s common shares on the date of such conversions. |
|