Mace Security International (MACE) 10-K 2004 FY Annual report

Exhibit 11

	Year ended December 31,
	2004			2003			2002
Basic:
Weighted average shares outstanding		13,679,604			12,414,816			12,630,964
Net loss:
Loss before cumulative effect of change in accounting principle	$	(6,410	)	$	(3,533	)	$	(57	)
Cumulative effect of change in accounting principle		—			—			(5,733	)
Net loss	$	(6,410	)	$	(3,533	)	$	(5,790	)
Basic loss per share:
Loss before cumulative effect of change in accounting principle	$	(0.47	)	$	(0.28	)	$	—
Cumulative effect of change in accounting principle		—			—			(0.46	)
Total	$	(0.47	)	$	(0.28	)	$	(0.46	)
Diluted:
Weighted average shares outstanding		13,679,604			12,414,816			12,630,964
Net effect of dilutive stock options and warrants based on the treasury stock method using the year-end market price, if higher than average market price		—			—			—
Total		13,679,604			12,414,816			12,630,964
Net loss:
Loss before cumulative effect of change in accounting principle	$	(6,410	)	$	(3,533	)	$	(57	)
Cumulative effect of change in accounting principle		—			—			(5,733	)
Net loss	$	(6,410	)	$	(3,533	)	$	(5,790	)
Diluted loss per share:
Loss before cumulative effect of change in accounting principle	$	(0.47	)	$	(0.28	)	$	—
Cumulative effect of change in accounting principle		—			—			(0.46	)
Total	$	(0.47	)	$	(0.28	)	$	(0.46	)