Exhibit 11.01 COMPUTATION OF EARNINGS PER SHARE 1996 1995 1994 ---------------------------------- AS REPORTED $ (1.85) $ (0.70) $ (1.24) PRIMARY Average shares outstanding $522,597 $513,287 $506,750 Dilutive stock options-- based upon treasury stock method using average market price 0 0 0 ------- ------- ------- TOTAL $522,597 $513,287 $506,750 ======= ======= ======= Net loss as reported $(966,585) $(361,773) $(630,803) Effect of application of modified treasury stock method 0 0 ADJUSTED NET EARNINGS $(966,585) $(361,773) $(630,803) ======= ======= ======= PER SHARE AMOUNT $(1.850) $(0.705) $(1.245) ======= ======= ======= FULLY DILUTED Average shares outstanding $522,597 $513,287 $506,750 Dilutive stock options-- based upon treasury stock method using ending market price 0 0 0 ------- ------- ------- TOTAL $522,597 $513,287 $506,750 ======= ======= ======= Net loss as reported $(966,585) $(361,773) $(630,803) Effect of application of modified treasury stock method 0 0 0 ------- ------- ------- ADJUSTED NET EARNINGS $(966,585) $(361,773) $(630,803) ======= ======= ======= PER SHARE AMOUNT $(1.850) $(0.705) $(1.245)