VIALOG Corporation Calculation of Shares Used in Determining Loss Per Share (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ---------------------- ---------------------- 1998 1999 1998 1999 ---------- ---------- ---------- ---------- Common stock, beginning of period....................... 3,665,072 8,661,722 3,486,380 3,693,672 Weighted average common shares issued during period, net.................. 10,275 77,503 128,982 3,933,948 Common stock options and warrants using the treasury stock method................. -- -- -- -- ---------- ---------- ---------- ---------- 3,675,347 8,739,225 3,615,362 7,627,620 ========== ========== ========== ========== Net loss (in thousands)....... $ (3,543) $ (2,478) $ (9,091) $ (9,403) ========== ========== ========== ========== Basic and diluted net loss per share........................ $ (0.96) $ (0.28) $ (2.51) $ (1.23) ========== ========== ========== ========== 22