EXHIBIT 11.1
(Loss)/earnings per share data is calculated as follows:
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BASIC INCOME PER SHARE FOR THE QUARTER ENDED SEPTEMBER 30, 2000 $
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Net loss available to common stockholders from continuing operations (1,538,741)
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Net income available to common stockholders from discontinued operations 7,420,208
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Total net income 5,881,467
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DATES OUTSTANDING SHARES FRACTION OF WEIGHTED
OUTSTANDING PERIOD AVERAGE
SHARES
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July 1, 2000 9,315,265 9,315,265
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July 1, 1999 to September 30, 2000
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_______- - -
- ---------------
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WEIGHTED AVERAGE SHARES 9,315,265 9,315,265
========= =========
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BASIC LOSS PER SHARE FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1999 $
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Net loss available to common stockholders from continuing operations (772,318)
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Net loss available to common stockholders from discontinued operations (2,155,502)
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Total net loss (2,927,820)
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DATES OUTSTANDING SHARES FRACTION OF WEIGHTED
OUTSTANDING PERIOD AVERAGE
SHARES
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July 1, 1999 6,329,731 1,00 6,329,731
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July 1, 1999to September 30, 1999
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Options converted to shares during the quarter 80,000 0,50 40,000
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Debentures converted into shares during the
Quarter __16,500 0,50 8,250
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WEIGHTED AVERAGE SHARES 6,426,231 6,377,981
========= =========
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-19-
EXHIBIT 11.1
(Loss)/earnings per share data is calculated as follows:
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DILUTED INCOME PER SHARE FOR THE QUARTER ENDED SEPTEMBER 30, 2000 $
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Net loss available to common stockholders from continuing operations (1,538,741)
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Add impact of assumed conversions 308,081
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(1,230,660)
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Net income available to common stockholders from discontinued operations 7,420,208
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ADJUSTED NET INCOME 6,189,548
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Weighted average shares 9,315,265
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Warrants and options not yet exercised 255,455
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Increasing rate debentures 1,263,158
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ADJUSTED WEIGHTED AVERAGE SHARES 10,833,878
==========
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DILUTED LOSS PER SHARE FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1999 $
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Net loss available to common stockholders from continuing operations (772,318)
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Add impact of assumed conversions 621,059
-----------
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(151,259)
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Net loss available to common stockholders from discontinued operations (2,155,502)
-----------
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ADJUSTED NET LOSS (2,306,761)
===========
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Weighted average shares 6,377,981
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Warrants and options not yet exercised 280,198
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9% convertible debentures 740,916
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Increasing rate debentures 1,578,947
---------
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ADJUSTED WEIGHTED AVERAGE SHARES 8,978,042
=========
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