EXHIBIT 11.1
ADEZA BIOMEDICAL CORP.
COMPUTATION OF NET LOSS PER SHARE
THREE MONTHS ENDED
YEAR ENDED DECEMBER 31, MARCH 31,
------------------------------------- ----------------------
1993 1994 1995 1995 1996
----------- ----------- ----------- --------- -----------
Historical primary and
fully diluted:
Weighted average
common stock
outstanding.......... 117,464 138,784 157,532 157,408 159,301
Preferred stock if-
converted............ -- -- -- -- --
Shares related to
staff accounting
bulletins:
Stock options....... 58,801 58,801 58,801 58,801 58,801
Warrants............ 26,175 26,175 26,175 26,175 26,175
----------- ----------- ----------- --------- -----------
202,440 223,760 242,508 242,384 244,277
=========== =========== =========== ========= ===========
Net loss................ $(6,109,000) $(3,660,000) $(1,144,000) $(875,000) $(1,077,000)
=========== =========== =========== ========= ===========
Net loss per share...... $ (30.17) $ (16.36) $ (4.72) $ (3.61) $ (4.41)
=========== =========== =========== ========= ===========
Pro forma:
Weighted average
common stock
outstanding.......... 117,464 138,784 157,532 157,408 159,301
Preferred stock if-
converted............ 1,784,061 2,012,939 5,203,465 5,203,465 5,203,465
Shares related to
staff accounting
bulletins:
Stock options....... 58,801 58,801 58,801 58,801 58,801
Warrants............ 26,175 26,175 26,175 26,175 26,175
----------- ----------- ----------- --------- -----------
1,986,501 2,236,699 5,445,973 5,445,849 5,447,742
=========== =========== =========== ========= ===========
Net loss................ $(6,109,000) $(3,660,000) $(1,144,000) $(874,000) $(1,077,000)
=========== =========== =========== ========= ===========
Net loss per share...... $ (3.08) $ (1.64) $ (0.21) $ (0.16) $ (0.20)
=========== =========== =========== ========= ===========
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Note: The number of shares of preferred stock have been retroactively restated
to show the effect of the recapitalization in December 1994.