Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Loss per Common Share

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Basic and Diluted Net Loss per Common Share
3 Months Ended
May 05, 2019
Earnings Per Share [Abstract]  
BASIC AND DILUTED NET LOSS PER COMMON SHARE

NOTE 5 – BASIC AND DILUTED NET LOSS PER COMMON SHARE

 

The following table presents the calculation of loss per share for the thirteen weeks ended May 5, 2019 and May 6, 2018:

 

    For the thirteen weeks ended  
    May 5,
2019
    May 6,
2018
 
Numerator:            
Net loss - Basic and diluted   $ (9,101,777 )   $ (5,683,248 )
Preferred dividends and deemed dividends     -       (1,901,016 )
Net loss attributable to common shares     (9,101,777 )     (7,584,264 )
Denominator:                
Weighted average number of common shares for basic and diluted net loss per share     13,669,944       6,065,238  
Basic and diluted net loss per share   $ (0.67 )   $ (1.25 )

 

Diluted net loss per common share includes, in periods in which they are dilutive, the effect of those potentially dilutive securities where the average market price of the common stock exceeds the exercise prices for the respective periods.

 

As of May 5, 2019, there were 1,179,697, of potentially dilutive shares which may be issued in the future, including 104,681 shares of common stock related to restricted stock units and warrants to purchase 1,075,016 shares of common stock. As of May 6, 2018, there were 1,031,853 of potentially dilutive shares which may be issued in the future, including 232,878 shares of common stock relating to restricted stock and warrants to purchase 798,975 shares of common stock. These were excluded from the diluted loss per share calculation because the effect of including these potentially dilutive shares was antidilutive.