Exhibit 11

                                                                

                       COMPUTATION OF EARNINGS PER SHARE

        For the three and six months ended September 30, 1997 and 1996
                                  (Unaudited)

 
 
                                                           Three Months Ended                Six Months Ended
                                                              September 30                     September 30,            
                                                      ----------------------------     ---------------------------
Primary Earnings per Share                               1997             1996            1997            1996  
                                                      ----------       -----------     ----------      -----------
                                                                                            
Net income (loss) applicable to common stock          $  503,146       $ (578,831)     $1,022,484      $ (173,112) 
Minority interest in net income of consolidated                                                                  
     subsidiary, net of tax                               66,164              ---         118,549             ---
                                                      ----------       ----------      ----------      ----------
Net income (loss), adjusted                           $  569,310       $ (578,831)     $1,141,033      $ (173,112) 
                                                      ==========       ==========      ==========      ==========
Weighted average number of common shares                                                                  
    outstanding                                        1,655,318        1,638,396       1,654,472       1,638,396  
Weighted average common shares issuable under                                                            
     employee stock option plan                          197,455          117,634         173,299         117,634  
Weighted average common shares issuable                                                                  
      under the Mitchell acquisition agreement           181,930              ---         181,930             ---  
Less weighted average shares assumed                                                             
      repurchased with proceeds                         (108,612)         (69,644)        (93,846)        (69,644) 
                                                      ----------       ----------      ----------      ----------
Weighted average common shares and common                                                                
      share equivalents outstanding                    1,926,091        1,686,386       1,915,855       1,686,386  
                                                      ==========       ==========      ==========      ==========
Primary earnings (loss) per common share              $     0.29       $    (0.34)     $     0.59      $    (0.10) 
                                                      ==========       ==========      ==========      ==========
Fully diluted earnings per share                                                                 

Net income (loss) applicable to common stock          $  503,146       $ (578,831)     $1,022,484      $ (173,112) 
Minority interest in net income of consolidated                                                                  
     subsidiary, net of tax                               66,164              ---         118,549             ---  
Interest on convertible subordinated debentures          171,853          172,991         345,058         345,981  
                                                      ----------       ----------      ----------      ----------
Net income (loss), adjusted                           $  741,163       $ (405,840)     $1,486,091      $  172,869  
                                                      ==========       ==========      ==========      ==========
Weighted average common shares and                                                               
   common share equivalents outstanding                1,926,091        1,686,386       1,915,855       1,686,386  

Weighted average common shares issuable with                                                             
    the conversion of debentures to common stock       1,112,956        1,120,364       1,112,956       1,120,364  
                                                      ----------       ----------      ----------      ----------
Weighted average common shares and common                                                                
    share equivalents outstanding                      3,039,047        2,806,750       3,028,811       2,806,750  
                                                      ==========       ==========      ==========      ==========
Fully diluted earnings (loss) per common share        $     0.24      $     (0.14)     $     0.49      $     0.06  
                                                      ==========       ==========      ==========      ==========
 

Fully diluted earnings (loss) per share are not disclosed on the statement of
operations for the three and six months ended September 30, 1996 as they are
anti-dilutive.