EXHIBIT 11-COMPUTATION OF PER SHARE EARNINGS RYKA INC. AND SUBSIDIARY NINE MONTHS ENDED SEPTEMBER 30, ---------------------------- 1997 1996 ---------- ----------- PRIMARY: Weighted average number of shares outstanding................... 60,386,559 58,421,284 Net effect of dilutive stock options and warrants (based on the Treasury Stock Method using average market price)......... - - ---------- ----------- Total................................................. 60,386,559 58,421,284 ========== =========== Net loss........................................................ ($369,167) ($1,237,303) ========== =========== Net loss share.................................................. ($ .01) ($ .02) ========== =========== FULLY DILUTED: Weighted average number of shares outstanding................... N/A N/A 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)............... - - ---------- ----------- Total N/A N/A ========== =========== Net loss........................................................ N/A N/A ========== =========== Net loss per share.............................................. N/A N/A ========== =========== -17-