1
EXHIBIT 11.1
PROBUSINESS, INC.
STATEMENT REGARDING THE COMPUTATION OF NET LOSS
AND PROFORMA NET LOSS PER SHARE
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
SIX-MONTH PERIOD
YEAR ENDED JUNE 30, ENDED DEC. 31, PROFORMA FOR PROFORMA FOR THE SIX-
---------------------------------- ---------------------- YEAR ENDED MONTH PERIOD ENDED
1994 1995 1996 1995 1996 JUNE 30, 1996 DECEMBER 31, 1996
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Net loss....................... $(1,477) $(979) $(2,386) $(456) $(2,974) $(2,730) $(3,678)
Shares used in net loss per
share computation:
Weighted average shares of
common stock outstanding... 3,340 7,126 129,408 47,914 211,979 129,408 211,979
Shares related to Staff
Accounting Bulletin Topic
4D:
Cheap stock................ 1,305,540 1,305,540 1,305,540 1,305,540 1,305,540 1,305,540 1,305,540
Common stock options....... 245,673 245,673 245,673 245,673 245,673 245,673 245,673
Preferred stock............ 1,229,466 1,229,466 1,229,466 1,229,466 1,229,466 1,229,466 1,229,466
Warrants................... 74,917 74,917 74,917 74,917 74,917 74,917 74,917
---------- ---------- ---------- ---------- ---------- ---------- ----------
Shares used in net loss per
share computation............ 2,858,936 2,862,722 2,985,004 2,903,510 3,067,575 2,985,004 3,067,575
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Net loss per share............. $(0.52) $(0.34) $(0.80) $(0.16) $(0.97) $(0.91) $(1.20)
Calculation of shares
outstanding for computing pro
forma net loss per share:
Shares used in computing
historical net loss per
share (from above)....... 2,985,004 3,067,575 2,985,004 3,067,575
Adjustment to reflect the
effect of the assumed
conversion of convertible
preferred stock from the
date of issuance......... 5,226,602 5,226,602 5,226,602 5,226,602
---------- ---------- ---------- ----------
Shares used in computing pro
forma net loss per share..... 8,211,606 8,294,177 8,211,606 8,294,177
========== ========== ========== ==========
Proforma net loss per share.... $ (0.29) $ (0.36) $ (0.33) $ (0.44)
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