Integrated Alarm Services (IASG) 10-K 2004 FY Annual report

Statement of Computation of Earnings Per Share

Integrated Alarm Services Group, Inc.

Exhibit 11.1
			Weighted Average
	Total Shares		Three Months					Year
Year Ended December 31, 2003
Shares outstanding January 1, 2003		709,719		709,719				709,719
Shares issued for IASI and Morlyn on January 31, 2003		881,192		881,192				806,351		334/365
Shares issued upon IPO on July 29, 2003		22,000,000		22,000,000				9,402,740		156/365
Shares issued upon exercise of overallotment on August 27, 2003		982,729		982,729				341,936		127/365
Shares issued to Criticom shareholders, earn-out, December 2, 2003		34,091		10,746		29/92		2,709		29/365
Shares outstanding December 31, 2003		24,607,731		24,584,386				11,263,455
Net income (loss)			$	(1,522,758	)		$	(22,004,560	)
Net income (loss) per share			$	(0.06	)		$	(1.95	)
Year Ended December 31, 2004
Shares outstanding January 1, 2004		24,607,731		24,607,731				24,607,731
Shares issued for Criticom (contingent) purchase		34,091		34,091		92/92		33,625		361/366
Shares issued upon conversion of debt:
April 26, 2004		36,036		36,036		92/92		24,516		249/366
June 2, 2004		3,604		3,604		92/92		2,088		212/366
Shares outstanding December 31, 2004		24,681,462		24,681,462				24,667,960
Net income (loss)							$	(11,717,043	)
Net income (loss) per share							$	(0.47	)