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
 6 Months Ended
Aug. 04, 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 and twenty-six weeks ended August 4, 2019 and August 5, 2018:

    For the thirteen weeks ended  
    August 4,
2019		     August 5,
2018		  
Numerator:            
Net loss - Basic and diluted   $ (4,770,999 )   $ (6,969,600 )
Preferred dividends and deemed dividends     -       (26,731,079 )
Net loss attributable to common shares     (4,770,999 )     (33,700,679 )
Denominator:                
Weighted average number of common shares for basic and diluted net loss per share     14,331,185       9,077,549  
Basic and diluted net loss per share   $ (0.33 )   $ (3.71 )

 

    For the twenty-six weeks ended  
    August 4,
2019		     August 5,
2018		  
Numerator:            
Net loss - Basic and diluted   $ (13,872,776 )   $ (12,652,848 )
Preferred dividends and deemed dividends     -       (27,424,079 )
Net loss attributable to common shares     (13,872,776 )     (40,076,927 )
Denominator:                
Weighted average number of common shares for basic and diluted net loss per share     14,000,565       7,571,377  
Basic and diluted net loss per share   $ (0.99 )   $ (5.29 )

 

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 August 4, 2019, there were 1,650,767, of potentially dilutive shares which may be issued in the future, including 116,281 shares of common stock related to restricted stock units, 495,366 stock options and warrants to purchase 1,039,120 shares of common stock. As of August 5, 2018, there were 1,509,044 of potentially dilutive shares which may be issued in the future, including 428,319 shares of common stock relating to restricted stock and warrants to purchase 1,080,725 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.