Exhibit 11
Statement of Computation of Per Share Amounts
Three Months Ended June 30, Six Months Ended June 30,
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1996 1995 1996 1995
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Primary:
Net loss for the period .......................... $ (1,546,532) $ (1,265,895) $ (3,106,385) $ (2,217,335)
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Weighted average number of shares of common stock
outstanding ................................ 28,496,355 19,583,375 27,679,817 19,527,310
Shares issuable upon exercise of outstanding
options and warrants ........................ -- -- -- --
Shares assumed to be acquired in accordance with
the treasury stock method ................... -- -- -- --
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Shares used in computing per share loss .......... 28,496,355 19,583,375 27,679,817 19,527,310
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Net loss per share ............................... $ (0.05) $ (0.06) $ (0.11) $ (0.11)
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Fully Diluted:
Net loss for the period .......................... $ (1,546,532) $ (1,265,895) $ (3,106,385) $ (2,217,335)
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Weighted average number of shares of common stock
outstanding ................................ 28,496,355 19,583,375 27,679,817 19,527,310
Shares issuable upon exercise of outstanding
options and warrants ........................ 3,230,640 3,737,509 3,299,329 3,621,779
Shares assumed to be acquired in accordance
with the treasury stock method .............. (1,239,330) (1,715,129) (1,313,331) (1,596,411)
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Shares used in computing per share loss .......... 30,487,665 21,605,755 29,665,815 21,552,678
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Net loss per share ............................... $ (0.05) $ (0.06) $ (0.11) $ (0.10)
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