XCL Ltd. and Subsidiaries
Exhibit 11-Computation of Earnings Per Common and Common
Equivalent Share
(Amounts in thousands except, per share amounts)
Three Months Ended
March 31
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1996 1995
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PRIMARY:
Net loss $ (1,641) $ (1,612)
Dividends on preferred stock (31) -
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Net loss attributable to common stock $ (1,672) $ (1,612)
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Weighted average number of shares common
stock outstanding 256,807 234,499
Common stock equivalents (computed using treasury
stock method) - -
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Average number of shares of common stock and common
stock equivalents outstanding 256,807 234,499
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Net loss per common and common equivalent share $ (.01) $ (.01)
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FULLY DILUTED:
Fully diluted net loss per common and common
equivalent share (1) (1)
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(1) All amounts are anti-dilutive or immaterial and
therefore not presented in the financial statements.