| Schedule of Cash and Cash Equivalents |
Cash
and cash equivalents consists of the following:
| |
|
June
30, 2019 |
|
|
December
31, 2018 |
|
| Cash |
|
$ |
1,542,111 |
|
|
$ |
808,943 |
|
| Money
market fund |
|
|
71,612,805 |
|
|
|
40,939,525 |
|
| Total
cash and cash equivalents |
|
$ |
73,154,916 |
|
|
$ |
41,748,468 |
|
|
| Schedule of Computation of Basic and Diluted Earnings Per Share |
Net
income (loss) per share was computed as follows:
| |
|
Three
Months Ended
June
30
|
|
|
Six
Months Ended
June
30
|
|
| |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
2,152,653 |
|
|
$ |
(12,069,351 |
) |
|
$ |
(24,082,156 |
) |
|
$ |
(23,764,736 |
) |
| Weighted average number of common shares. basic |
|
|
64,546,628 |
|
|
|
57,157,955 |
|
|
|
63,119,196 |
|
|
|
56,764,935 |
|
| Effect of dilutive securities |
|
|
3,964,959 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Weighted average number of common shares-diluted |
|
|
68,511,587 |
|
|
|
57,157,955 |
|
|
|
63,119,196 |
|
|
|
56,764,935 |
|
| Net income (loss) per share of common stock-basic |
|
$ |
0.03 |
|
|
$ |
(0.21 |
) |
|
$ |
(0.38 |
) |
|
$ |
(0.42 |
) |
| Net income (loss) per share of common stock-diluted |
|
$ |
0.03 |
|
|
$ |
(0.21 |
) |
|
$ |
(0.38 |
) |
|
$ |
(0.42 |
) |
| Antidilutive awards (1) |
|
|
281,132 |
|
|
|
— |
|
|
|
317,945 |
|
|
|
— |
|
| (1) |
Certain
stock-based compensation awards were not included in the calculation of net income per common share for the three months ended
June 30, 2019 because their effect would have been antidilutive. For the three months ended June 30, 2018 and the six months
ended June 30, 2019 and 2018, the effect of dilutive shares was not included in the computation of net loss per share because
we had a net loss. |
|