Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Common Share

v3.19.1
Earnings (Loss) Per Common Share
9 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
10.
Earnings (Loss) Per Common Share
 
Basic earnings (loss) per common share is computed by dividing the net income (loss) allocated to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of calculating diluted earnings (loss) per common share, the denominator includes both the weighted-average number of shares of common stock outstanding during the period and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and warrants using the treasury stock method. The following table summarizes the components of the earnings (loss) per common share calculation (in thousands, except per share amounts):
 
 
 
Three Months ended

March 31,
 
 
Nine Months ended

March 31,
 
 
 
2019
 
 
2018
 
 
2019
 
 
2018
 
Basic and diluted numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss attributable to iBio, Inc.
 
$
(4,223
)
 
$
(3,962
)
 
$
(13,090
)
 
$
(11,687
)
  Preferred stock dividends
 
 
64
 
 
 
64
 
 
 
195
 
 
 
195
 
Net loss available to iBio, Inc. stockholders
 
$
(4,287
)
 
$
(4,026
)
 
$
(13,285
)
 
$
(11,882
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic and diluted denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average common shares outstanding
 
 
19,224
 
 
 
11,545
 
 
 
18,597
 
 
 
10,247
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Per share amount
 
$
(0.22
)
 
$
(0.35
)
 
$
(0.71
)
 
$
(1.16
)
 
In Fiscal 2019 and Fiscal 2018, the Company incurred net losses which cannot be diluted; therefore, basic and diluted loss per common share is the same. As of March 31, 2019 and 2018, shares issuable which could potentially dilute future earnings were as follows:
 
 
 
Three and Nine

Months Ended

December 31,
 
 
 
2019
 
 
2018
 
 
 
(in thousands)
 
Stock options
 
 
947
 
 
 
1,350
 
Series A Preferred
 
 
4,980
 
 
 
-
 
Series B Preferred
 
 
6,428
 
 
 
-
 
Shares excluded from the calculation of diluted loss per share
 
 
12,355
 
 
 
1,350
 
 
Share and per share data for Fiscal 2018 have been adjusted to reflect the one-for-ten reverse stock split effective June 8, 2018.