EXHIBIT 11
COMPUTATION OF INCOME (LOSS) PER SHARE
FOR THE SIX MONTHS ENDED DECEMBER 31, 2000 AND 1999
2000 1999
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Net income (loss) $ (3,493,525) $ 6,362,280
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Weighted average number of common shares outstanding 10,157,569 7,385,858
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Basic income (loss) per share $ (0.34) $ 0.86
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Weighted average number of common shares outstanding 10,157,569 7,385,858
Common share equivalents applicable to:
Warrants - Class A
Warrants - Class B
Warrants - Class C 9,067
Warrants - Other 878,750 937,083
Stock options 1,108,978 693,908
Less common stock acquired with net proceeds (1,987,728) (1,638,535)
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Weighted average number of common shares and
common share equivalents used to compute diluted
income (loss) per share 10,157,569 7,387,381
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Diluted income (loss) per share $ (0.34) $ 0.86
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EXHIBIT 11
COMPUTATION OF LOSS PER SHARE
FOR THE QUARTER ENDED DECEMBER 31, 2000 AND 1999
2000 1999
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Net loss $ (1,674,963) $ (2,795,275)
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Weighted average number of common shares outstanding 11,104,052 6,420,704
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Basic loss per share $ (0.15) $ (0.44)
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Weighted average number of common shares outstanding 11,104,052 6,420,704
Common share equivalents applicable to:
Warrants - Class A
Warrants - Class B
Warrants - Class C 9,067
Warrants - Other 878,750 937,083
Stock options 1,111,850 702,423
Less common stock acquired with net proceeds (1,990,600) (1,648,573)
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Weighted average number of common shares and
common share equivalents used to compute diluted
loss per share 11,104,052 6,420,704
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Diluted loss per share $ (0.15) $ (0.44)
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