Annual report pursuant to Section 13 and 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.1.9
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]  
Basic and diluted net income (loss) per share
Basic and diluted net income (loss) per share were determined as follows:

(in thousands, except share and per share amounts)

   
For the year ended December 31,
  
   
2014
    
2013
  
         
Net income (loss) allocable to common stockholders
  
$
(29,653
)
  
$
1,551
  
Weighted average shares outstanding
    
1,942,905
      
504,863
  
Basic net income (loss) per common share
  
$
(15.26
)
  
$
3.07
  
                 
Net income (loss) allocable to common stockholders
  
$
(29,653
)
  
$
1,551
  
Weighted average shares outstanding
    
1,942,905
      
504,863
  
Effect of dilutive options and warrants
    
-
      
4,610
  
Weighted average shares outstanding assuming dilution
    
1,942,905
      
509,473
  
Diluted net income (loss) per common share
  
$
(15.26
)
  
$
3.04
  
Antidilutive securities excluded from computation of earnings per share
We did not include the following securities in the table below in the computation of diluted net income (loss) per common share because the securities were anti-dilutive during the periods presented:

   
For the year ended December 31,
  
   
2014
    
2013
  
         
Warrants
    
4,164,756
      
637,581
  
Stock options
    
210,134
      
18,384
  
Preferred stock Series A
    
-
      
1,161,345
  
Preferred stock Series B
    
-
      
400,000
  
Total
    
4,374,890
      
2,217,310
  
Stock-based compensation allocation
The following table summarizes stock-based compensation for the years ended December 31, 2014 and 2013 which was allocated as follows (in thousands):

   
Year ended
December 31, 2014
    
Year ended
December 31, 2013
  
Research and development
  
$
104
    
$
31
  
General and administrative
    
1,201
      
408
  
Stock-based compensation expense included in operating expense
    
1,305
      
439
  
                 
Total stock-based compensation expense
    
1,305
      
439
  
Tax benefit
    
-
      
-
  
Stock-based compensation expense, net of tax
  
$
1,305
    
$
439