EXHIBIT 11

                        CAPITOL COMMUNITIES CORPORATION

                       Computation of Earnings Per Share


 
 
                                           Six Months Ended
                                               March 31,
                                                 
 
                                          1997           1996
                                          ----           ----
 
Shares Outstanding Beginning            7,000,000      7,000,000
Of Period
 
Shares Issued During Period
     October 7, 1996                       38,000              -
     November 12, 1996                    150,000              -
 
Weighted average number of              7,151,099      7,000,000
shares outstanding
 
Total                                   7,151,099      7,000,000
 
Earnings (loss) applicable to           $(646,717)     $(566,436)
common shares
 
Earnings (loss) per share of            $  (0.090)     $  (0.081)
common stock