(11) COMPUTATION OF PER SHARE AMOUNTS
Nine months ended Nine months ended
September 30 September 30
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1999 1998 1999 1998
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Net loss $ (8,506,172) $ (6,068,994) $ (2,927,739) $ (2,362,568)
Series B preferred stock dividend
(17,578) (131,503) - (48,147)
Series C redeemable preferred
stock dividend and accretion (344,504) (109,179) (95,255) (66,992)
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Loss applicable to common shareholders $ (8,868,254) $ (6,309,676) $ (3,022,994) $ (2,477,707)
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Basic and diluted weighted average shares outstanding 54,109,313 38,320,832 57,360,994 50,429,994
Common equivalent shares representing shares issuable upon exercise 17,454,599 25,520,198 17,454,599 25,520,198
of stock options
Add back of common equivalents shares due to antidilutive shares (17,454,599) (25,520,198) (17,454,599) (25,520,198)
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Dilutive adjusted weighted average shares 54,109,313 38,320,832 57,360,994 50,429,994
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Basic net loss per share (0.16) (0.16) (0.05) (0.05)
Diluted net loss per share (0.16) (0.16) (0.05) (0.05)