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EXHIBIT 11.2 STATEMENT OF PRO FORMA PER SHARE EARNINGS



                                       Pro Forma Three Months Ended        Pro Forma Year Ended 
                                       March 31, 1998                      December 31, 1997
                                                                                      
NET INCOME (LOSS)                      $ (2,030,703)                           $ (4,929,070)       
                                                                                                   
PRIMARY SHARES                                                                                     
weighted average common shares                                                                     
outstanding                              18,337,347                              18,494,664        
                                                                                                   
Stock options and warrants                     --                                      --          
                                                                                                   
weighted average common and common                                                                 
equivalents shares outstanding           18,337,347                              18,494,664        
                                                                                                   
PRIMARY EARNINGS (LOSS) PER SHARE      $      (0.11)                           $      (0.27)       
                                                                                                   
FULLY DILUTED SHARES                                                                               
weighted average common shares                                                                     
outstanding                              18,337,347                              18,494,664        
                                                                                                   
Stock options and warrants                1,012,300                               1,012,300        
                                                                                                   
Contingent stock issue rights             1,667,001                               1,667,001        
                                                                                                   
weighted averaged common shares                                                                    
outstanding                              21,016,648                              21,179,365        
                                                                                                   
                                                                                                   
FULLY DILUTED EARNINGS (LOSS) 
PER SHARE                              $      (0.11)                           $      (0.27)       






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