EXHIBIT 11
Exhibit 11 - Computation of Per Share Earnings
RYKA Inc. and Subsidiary
THREE MONTHS ENDED NINE MONTHS ENDED
September 30, September 30,
1995 1994 1995 1994
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PRIMARY:
Weighted average number of
common shares outstanding 39,541,437 23,940,406 30,830,241 23,877,509
Net effect of dilutive stock
options and warrants (based
on the Treasury Stock
Method using average
market price)
3,834,055 -- -- 493,866
------------ ------------ ----------- -----------
Total 43,375,492 23,940,406 30,830,241 24,371,375
============ ============ =========== ===========
Net income (loss):
Income (loss) before
extraordinary item ($ 482,772) ($ 59,659) ($4,632,803) $ 95,702
Extraordinary item 1,650,256 -- 1,650,256 --
------------ ------------ ----------- -----------
Net income (loss) $ 1,167,484 ($ 59,659) ($2,982,547) $ 95,702
============ ============ =========== ===========
Net income (loss) per share:
Income (loss) before
extraordinary item ($.01) $0.00 ($.16) $0.00
Extraordinary item .04 0.00 .06 0.00
----- ----- ----- -----
Net income (loss) per share $.03 $0.00 ($.10) 0.00
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FULLY DILUTED:
Weighted average number of
common shares outstanding 39,541,437 23,940,406 30,830,241 23,877,509
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) 3,834,055 -- -- 525,882
------------ ------------ ----------- -----------
Total 43,375,492 23,940,406 30,830,241 24,403,391
============ ============ =========== ===========
Net income (loss):
Income (loss) before
extraordinary item ($ 482,772) ($ 59,659) ($4,632,803) $ 95,702
Extraordinary item 1,650,256 -- 1,650,256 --
------------ ------------ ----------- -----------
Net income (loss) $ 1,167,484 ($ 59,659) ($2,982,547) $ 95,702
============ ============ =========== ===========
Net income (loss):
Income (loss) before
extraordinary item ($.01) $0.00 ($.16) $0.00
Extraordinary item .04 0.00 .06 0.00
----- ----- ----- -----
Net income (loss) per share $.03 $0.00 ($.10) $0.00
===== ===== ===== =====