NOCOPI TECHNOLOGIES, INC. COMPUTATION OF LOSS PER COMMON SHARE EXHIBIT 11.1 1996 1995 1994 ---- ---- ---- Primary Net loss applicable to common shares $ (408,300) $ (241,900) $(1,419,200) ========== ========== ========== Weighted average common shares outstanding 14,067,606 14,006,254 13,878,593 Dilutive shares - based on the treasury stock method using the average market price (1) 34,780 83,586 17,535 ---------- ---------- ---------- 14,102,386 14,089,840 13,896,128 ========== ========== ========== Per share amount applicable to net loss ($.03) ($.02) ($.10) 1996 1995 1994 ---- ---- ---- Fully diluted Net loss $ (408,300) $ (241,900) $(1,419,200) Add interest on Series B notes 66,500 74,700 98,000 Deduct ownership interest of others in loss of consolidated entity (374,800) (322,900) (218,000) ---------- ---------- ---------- Net loss applicable to common shares $(716,600) $(490,100) $(1,539,200) ========== ========== ========== Weighted average common shares outstanding 14,067,606 14,006,254 13,878,593 Dilutive shares - based on the treasury stock method using the greater of the period-end market price or the average market price (2) 1,336,461 1,411,382 934,978 ---------- ---------- ---------- 15,404,067 15,417,636 14,813,571 ========== ========== ========== Per share amount applicable to net loss ($.05) ($.03) ($.10) (1) represents shares resulting from stock options and warrants. (2) represents shares resulting from stock options, warrants and the assumed conversion of convertible notes and Euro-Nocopi S.A. stock.