Exhibit 11.1 ZMAX CORPORATION AND SUBSIDIARY CALCULATION OF BASIC AND DILUTED NET LOSS PER SHARE (UNAUDITED) For the three months ended March 31, ------------------------------------ 1998 1997 ------------------------------------ Net loss $ (681,731) $ (2,144,327) ============= ============= Weighted average share calculations Basic and diluted weighted average shares outstanding: Average number of shares of common stock outstanding during the quarter 11,729,714 6,704,072 Less: Average number of restricted shares of common stock outstanding during the quarter 2,800,000 2,800,000 Less: Average number of cancellable shares of common stock outstanding during the quarter 479,801 479,801 ------------- ------------- Basic and diluted weighted average shares outstanding: 8,449,913 3,424,271 ============= ============= Basic and diluted net loss per share $ (0.08) $ (0.63) ============= =============