EXHIBIT 12.2
EARNINGS PER SHARE
WEIGHTED AVERAGE
NET INCOME (LOSS) NUMBER OF SHARES PER SHARE
(NUMBERTOR) (DENOMINATOR) AMOUNTS
----------------- ---------------- ---------
1997
- -----------------------------------------------
Basic Earnings per Share $4,209,000 11,870,796 0.35
Effect of Conversion of Convertible Debentures 618,450 1,855,334
Effect of Dilutive Stock Options - 464,714
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Diluted Earnings per Share $4,827,450 14,190,844 0.34
1996
- -----------------------------------------------
Basic Earnings per Share $ 149,000 8,802,186 0.02
Effect of Conversion of Convertible Debentures - 2,292,922
Effect of Dilutive Stock Options 196,186
---------- ---------- ----
Diluted Earnings per Share $ 149,000 11,291,294 0.01
1995
- -----------------------------------------------
Basic Loss per Share $ (575,000) 6,000,000 (0.10)
Effect of Conversion of Convertible Debentures - -
Effect of Dilutive Stock Options
---------- ---------- ----
Diluted Loss per Share $ (575,000) 6,000,000 (0.10)