1 EXHIBIT 11.1 PLANET POLYMER TECHNOLOGIES, INC. Statement of Computation of Common and Common Equivalent Shares AS OF MARCH 31, 1999 Three months ended March 31, ---------------------------- 1999 1998 --------- --------- Shares outstanding at beginning of period 5,300,144 5,300,144 10,169 shares issued on March 15, 1998 10,169 2,062 --------- --------- Weighted average number of shares 5,310,313 5,302,206 ========= 1,000,000 shares issued on January 11, 1999 877,778 9,677 shares issued on March 15, 1999 1,720 5,000 shares issued on March 30, 1999 56 --------- Weighted average number of shares 6,189,867 =========