ITEM 11 Computation of Per Share Earnings
RYKA Inc. and Subsidiary
Three Months Ended Nine Months Ended
September 30, September 30,
1996 1995 1996 1995
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PRIMARY:
Weighted average number of common shares outstanding 52,054,308 39,541,437 50,552,211 30,830,241
Net effect of dilutive stock options and warrants
(based on the Treasury Stock Method using
average market price) 9,469,633 3,834,055 - -
----------- ----------- ----------- -----------
Total 61,523,941 43,375,492 50,552,211 30,830,241
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Net income (loss):
Income (loss) before extraordinary item 33,587 ($ 482,772) ($ 725,689) ($ 4,632,803)
Extraordinary item - 1,650,256 - 1,650,256
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Net income (loss) $ 33,587 $ 1,167,484 ($ 725,689) ($ 2,982,547)
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Net income (loss) per share:
Income (loss) before extraordinary item ($ - ($ .01) ($ .01) ($ .16)
Extraordinary item - .04 - .06
----------- ----------- ----------- -----------
Net income (loss) per share $ - $ .03 ($ .01) ($ .10)
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FULLY DILUTED:
Weighted average number of common shares outstanding 52,054,308 39,541,437 50,552,211 30,830,241
Net effect of dilutive stock options and warrants
(based on the Treasury Stock Method using the quarter-end
market price, if greater than the average market price) 9,469,633 3,834,055 - -
----------- ----------- ----------- -----------
Total 61,523,941 43,375,492 50,552,211 30,830,241
=========== =========== =========== ===========
Net income (loss):
Income (loss) before extraordinary item $ 33,587 ($ 482,772) ($ 725,689) ($ 4,632,803)
Extraordinary item - 1,650,256 - 1,650,256
----------- ----------- ----------- -----------
Net income (loss) $ 33,587 $ 1,167,484 ($ 725,689) ($ 2,982,547)
=========== =========== =========== ===========
Net income (loss):
Income (loss) before extraordinary item $ - ($ .01) ($ .01) ($ .16)
Extraordinary item - .04 - .06
----------- ----------- ----------- -----------
Net income (loss) per share $ - $ .03 ($ .01) ($ .10)
=========== =========== =========== ===========