EXHIBIT 11
UNIVERSAL COMMUNICATION SYSTEMS, INC.
COMPUTATION OF WEIGHTED AVERAGE
COMMON STOCK SHARES OUTSTANDING
Three Months Nine Months
Total Number Ended Ended
of Shares June 30, 2002 June 30, 2002
------------ ------------- --------------
Outstanding shares as of October 1, 2001 137,530,725 137,530,725 137,530,725
Conversion of debt 02/05/02 2,003,825 2,003,825 1,064,303
Sale of common shares 02/21/02 13,254,447 13,254,447 6,263,090
Issued for services 02/22/02 1,000,000 1,000,000 468,864
Issued for services 04/08/02 26,013,918 23,726,980 7,908,993
Conversion of debt 04/08/02 45,000,000 41,043,956 13,681,319
Transfer to Escrow for Acquisition 04/08/02 25,000,000 22,802,198 7,600,733
Issued for services 04/25/02 2,000,000 1,450,549 483,516
Sale of common shares 04/25/02 11,000,000 7,978,022 2,659,341
Issued for services 05/22/02 17,800,000 7,628,571 2,542,857
Sale of common shares 06/17/02 20,000,000 2,857,143 952,381
Issued for services 06/19/02 23,394,066 2,827,854 942,618
----------- ----------- -----------
Total Weighted Average Shares Outstanding 323,996,981 264,104,271 182,098,740
=========== =========== ===========
Net Loss From Continuing Operations $ (515,751) $(1,450,722)
=========== ===========
Net Loss per common share (1) $ (0.002) $ (0.008)
(1) The effect of common stock options and warrants is excluded from
diluted earnings per share as its inclusion would be anti-dilutive
for the three month and nine month periods ended June 30, 2002.