Stereotaxis
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S-1/A
STEREOTAXIS, INC. filed this Form S-1/A on 06/17/2004
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STEREOTAXIS, INC.

NOTES TO FINANCIAL STATEMENTS — (Continued)

(Information as of March 31, 2004 and for the three months ended
March 31, 2003 and 2004 is unaudited)
 
12. Net Loss per Share

       The following is a reconciliation of the numerator (net loss) and the denominator (number of shares) used in the basic and diluted earnings per share calculations:

                                             
Three Months Ended
Year Ended December 31 March 31


2001 2002 2003 2003 2004





(Unaudited)
Basic and diluted:
                                       
 
Net loss
  $ (17,005,198 )   $ (21,458,658 )   $ (24,036,837 )   $ (4,905,670 )   $ (7,849,997 )
     
     
     
     
     
 
   
Weighted average common shares outstanding
    3,354,068       4,775,534       5,127,177       5,011,937       5,458,965  
   
Less weighted average shares subject to repurchase
    693,351       753,251       415,481       555,709       166,719  
     
     
     
     
     
 
   
Weighted average shares used in basic and diluted net loss per share
    2,660,717       4,022,283       4,711,696       4,456,228       5,292,246  
     
     
     
     
     
 
 
Net loss per share
  $ (6.39 )   $ (5.33 )   $ (5.10 )   $ (1.10 )   $ (1.48 )
     
     
     
     
     
 

       The following table sets forth potential shares of common stock that are not included in the diluted net loss per share because to do so would be antidilutive for the periods indicated:

                                         
Three Months Ended
Year Ended December 31 March 31


2001 2002 2003 2003 2004





(Unaudited)
Preferred stock (as if converted)
    34,409,188       43,855,381       56,214,778       53,746,731       64,754,171  
Options to purchase common stock
    2,686,390       4,645,881       6,034,393       4,675,631       7,418,310  
Common stock subject to repurchase
    688,694       605,699       199,792       505,614       133,646  
Warrants
    1,789,006       2,804,480       3,219,225       3,219,225       4,295,395  
     
     
     
     
     
 
      39,573,278       51,911,441       65,668,188     $ 62,147,201       76,601,522  
     
     
     
     
     
 
 
13. Employee Benefit Plan

       From 1999 through 2001, the Company offered employees the opportunity to participate in a Simple IRA plan. Participants had the option to defer up to $6,500 of their salary per year on a pretax basis. This plan was discontinued as of December 31, 2001. Beginning in 2002, the Company offered employees the opportunity to participate in a 401(k) plan. The Company matches employee contributions dollar for dollar up to 3% of the employee’s salary during the employee’s period of participation. For the years ended December 31, 2001, 2002, and 2003, the Company expensed $134,853, $222,081, and $264,965, respectively, and for the three months ended March 31, 2003 and 2004, the Company expensed $52,917 and $103,743, respectively, related to the plan.

F-24


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