EXHIBIT 11.1
YOUNG MINDS, INCORPORATED
COMPUTATION OF WEIGHTED AVERAGE COMMON STOCK OUTSTANDING
Years Ended
-------------------------------
December 31, June 30,
----------------
1994 1995 1996
---- ---- ----
Weighted Common Stock Outstanding 1,861,230 2,457,480 2,969,147
Common Stock Equivalents per SAB 83
Common shares and warrants issued
subsequent to August 1995 at prices
or exercise prices below the expected
offering price(1) 1,895,000 1,895,000 1,895,000
Assumed buyback of public shares(3) (155,000) (155,000) (155,000)
--------- --------- ---------
1,740,000 1,740,000 1,740,000
--------- --------- ---------
Common Stock Equivalents per APB 15
Outstanding warrants and options(2) 862,306
Assumed buyback of public shares(3) (104,340)
---------
757,966 N/A N/A
---------
Weighted Average Common Stock
Outstanding - Primary and Fully Dilutive 4,359,196 4,197,480 4,709,147
--------- --------- ---------
--------- --------- ---------
- ----------------
(1) Amount represents all common stock and options and warrants issued
within one year of the initial filing of the Company's registration
statement at a per share or exercise price per share below the
anticipated public offering price of $12.00 per share.
(2) Amount represents the total amount of common stock equivalents
outstanding as of December 31, 1994.
(3) Amount represents the repurchase of shares at an assumed purchase price
of $12.00 per share utilizing the proceeds received on the sale of
common stock or exercise of options or warrants.