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EXHIBIT 11.1
MOTORVAC TECHNOLOGIES, INC.
CALCULATION OF NET INCOME (LOSS) PER SHARE
FOR THE THREE MONTHS AND THE SIX MONTHS ENDED
JUNE 30, 1997 AND JUNE 30, 1996
THREE MONTHS ENDED SIX MONTHS ENDED
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JUNE 30, JUNE 30, JUNE 30, JUNE 30,
1997 1996 1997 1996
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Net Income (Loss) 196,239 (317,407) 340,042 (809,404)
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Weighted Average Outstanding Common and Common
Equivalent shares:
Common Stock Outstanding, December 31, 1996,
December 31, 1995 4,514,918 948,000 4,514,918 948,000
Common stock equivalents:
Conversion of Series A Preferred Stock 966,247 966,247
Conversion of Series B Preferred Stock 570,150 570,150
Common Shares Issued in Initial Public Offering 1,100,000 1,100,000
Weighting of Initial Public Offering 809,890 404,945
Conversion of $4,410,300 of Notes Payable to
Related party 820,521 820,521
Common Stock issued in Overallotment on June 15,
1996 110,000 110,000
Weighting of overallotment option (15 days) 18,132 9,066
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4,514,918 4,132,940 4,514,918 3,718,929
Incremental shares, assuming exercise of
options grants outstanding at June 30, 1996
and June 30, 1997 (eliminated if dilutive to
EPS) 0 11,624 0 4,294
Weighted Average Outstanding Common and Common
Equivalent Shares 4,514,918 4,144,564 4,514,918 3,723,223
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Net Income (Loss) per Share $ 0.04 $ (0.08) $ 0.08 $ (0.22)
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