Exhibit 11
Universal Heights, Inc.
Statement Regarding the Computation of Per Share Income (Loss)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, OCTOBER 31, SEPTEMBER 30, OCTOBER 31,
1998 1997 1998 1997
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Computation of Net Income (Loss) Per Share:
Weighted average number of
shares outstanding 14,688,000 3,251,000 14,680,000 3,368,000
Income (loss) applicable to
common stock:
From continuing operations $ 442,962 $ (351,597) $ 1,990,477 $ (688,954)
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From discontinued operations $ - $ (120,953) $ - $(1,735,850)
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Net income (loss) $ 442,962 $ (472,550) $ 1,990,477 $(2,424,804)
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Basic Income (loss) Per Share:
From continuing operations $ 0.03 $(0.11) $ 0.14 $(0.21)
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From discontinued operations $ - $(0.04) $ - $(0.51)
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Net income (loss) $ 0.03 $(0.15) $ 0.14 $(0.72)
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The dilutive effect of options and warrants increased the weighted shares by
3,261,000 shares for the three months ended September 30, 1998 and 2,711,000
shares for the nine months ended September 30, 1998 resulting in diluted
earnings per share of $0.02 and $0.11, respectively.