Lancit Media Entertainment, Ltd.
Exhibit 11 - Computation of Earnings Per Share
Three months ended
September 30,
1997 1996
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Primary
Weighted average shares outstanding 6,634,750 6,261,153
Net effect of dilutive stock options - based
on the treasury stock method using
average market price - -
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Total 6,634,750 6,261,153
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Net Loss $ (1,331,181) $ (582,149)
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Per share amount $ (0.20) $ (0.09)
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Fully Diluted
Weighted average shares outstanding 6,634,750 6,261,153
Net effect of dilutive stock options - based
on the treasury stock method using
average market price - -
---------- ----------
Total 6,634,750 6,261,153
========== ==========
Net Loss $ (1,331,181) $ (582,149)
========== ==========
Per share amount $ (0.20) $ (0.09)
========== ==========