MICROLEAGUE MULTIMEDIA, INC.
WEIGHTED SHARES OUTSTANDING
QUARTER ENDED JUNE 30,1996
DAYS WEIGHTED
# OF SHARES AVERAGE
QUARTER ENDED JUNE 30,1996 SHARES O/S SHARES 0
- --------------------------------------------------- ----------- ---------------- -------------
BALANCE 3/31/96 2,756,667 *52/91 1,575,238
MAY 23, I.P.O. 1,020,000
-----------
3,776,667 *14/91 581,026
JUNE 6 - OVERALLOTMENT 153,000
-----------
BALANCE 6/30/96 3,929,667 *25/91 1,079.579
=========== =========
3,235,843
AVERAGE STOCK PRICE FOR QTR FOR T-STOCK METHOD
APRIL 1 TO IPO (MAY 23) $5.70 *52/91 $3.26
MAY 23 TO MAY 31 $6.46 *9/91 $0.64
JUNE 1 TO JUNE 30 $6.54 *30/91 $2.16
---------
$6.05
3,235,843
ADD: TREAS. STOCK METHOD FOR GLEKLEN WARRANTS
68,000 WARRANTS X $1.68, DIVIDED BY AVG. PRICE OF $6.05 PER SHARE,
EQUALS 18,883 SHARES BOUGHT BACK OUT OF 68,000 ISSUED
49,117 *91/91 49,117
ADD: SWARTZ & FERRETTI OPTIONS
USING TREAS. STOCK METHOD
95,000 OPTIONS X $1.55, DIVIDED BY AVG. PRICE OF $6.05 PER SHARE,
EQUALS 24,339 SHARES BOUGHT BACK OUT OF 95,000 ISSUED
70,661 *91/91 70,661
ADD: GUARRANTOR OPTIONS
USING TREAS. STOCK METHOD
140,000 OPTIONS X $2.84, DIVIDED BY AVG. PRICE OF $6.05 PER SHARE
EQUALS 65,719 SHARES BOUGHT BACK OUT OF 140,000 ISSUED
74,281 *91/91 74,281
ADD: FRITZ LIGHT OPTIONS
USING TREAS. STOCK METHOD
36,400 OPTIONS X $2.08, DIVIDED BY AVG. PRICE OF $6.05 PER SHARE,
EQUALS 12,514 SHARES BOUGHT BACK OUT OF 36,400 ISSUED
23,886 *91/91 23,886
COMMON STOCK WARRANTS-MAY
USING TREAS. STOCK METHOD
1,020,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $6.05
EQUALS 990,000 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
ANTI - DILUTIVE
COMMON STOCK WARRANTS-JUNE
USING TREAS. STOCK METHOD
1,020,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $6.05
EQUALS 977,890 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
COMMON STOCK WARRANTS-JUNE ANTI - DILUTIVE
USING TREAS. STOCK METHOD
153,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $6.05
EQUALS 146,684 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
BRIDGE WARRANTS ANTI - DILUTIVE
USING TREAS. STOCK METHOD
160,000 WARRANTS X $3, DIVIDED BY AVG. PRICE OF $6.05
EQUALS 73,339 SHARES BOUGHT BACK OUT OF 160,000 ISSUED
86,661 *39/91 37,140
----------------
3,490,928
================
MICROLEAGUE MULTIMEDIA, INC.
WEIGHTED SHARES OUTSTANDING
SIX MONTHS ENDED JUNE 30,1996
DAYS WEIGHTED
# OF SHARES AVERAGE
SIX MONTHS ENDED JUNE 30,1996 SHARES O/S SHARES 0
- --------------------------------------------------- ----------- ------------- -------------
JAN. 1 THRU MAY 22 2,756,667 *142/181 2,162,689
MAY 23, I.P.O. 1,020,000
-----------
3,776,667 *14/181 292,118
JUNE 6 - OVERALLOTMENT 153,000
-----------
BALANCE 6/30/96 3,929,667 *25/181 542,772
================
2,997,579
AVERAGE STOCK PRICE FOR QTR FOR T-STOCK METHOD
JAN. 1 THROUGH MAY 22 $5.50 *142/181 $4.31
MAY 23 TO MAY 31 $6.46 *9/181 $0.32
JUNE 1 TO JUNE 30 $6.54 *30/181 $1.08
----------------
T-STOCK AVG. PRICE FOR PERIOD $5.72
================
2,997,579
ADD: TREAS. STOCK METHOD FOR GLEKLEN WARRANTS
68,000 WARRANTS X $1.68, DIVIDED BY AVG. PRICE OF $5.72 PER SHARE,
EQUALS 19,972 SHARES BOUGHT BACK OUT OF 68,000 ISSUED
48,028 *181/181 48,028
ADD: SWARTZ & FERRETTI OPTIONS
USING TREAS. STOCK METHOD
95,000 OPTIONS X $1.55, DIVIDED BY AVG. PRICE OF $5.72 PER SHARE,
EQUALS 25,743 SHARES BOUGHT BACK OUT OF 95,000 ISSUED
69.257 *181/181 69.257
ADD: GUARRANTOR OPTIONS
USING TREAS. STOCK METHOD
140,000 OPTIONS X $2.84, DIVIDED BY AVG. PRICE OF $5.72 PER SHARE
EQUALS 69,511 SHARES BOUGHT BACK OUT OF 140,000 ISSUED
70,489 *181/181 70,489
ADD: FRITZ LIGHT OPTIONS
USING TREAS. STOCK METHOD
36,400 OPTIONS X $2.08, DIVIDED BY AVG. PRICE OF $5.72 PER SHARE,
EQUALS 13,236 SHARES BOUGHT BACK OUT OF 36,400 ISSUED
23,164 *181/181 23,164
COMMON STOCK WARRANTS-MAY
USING TREAS. STOCK METHOD
1,020,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $5.72
EQUALS 990,000 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
ANTI - DILUTIVE
COMMON STOCK WARRANTS-JUNE
USING TREAS. STOCK METHOD
1,020,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $5.72
EQUALS 977,890 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
ANTI - DILUTIVE
COMMON STOCK WARRANTS-JUNE
USING TREAS. STOCK METHOD
153,000 WARRANTS X $6.27, DIVIDED BY AVG. PRICE OF $5.72
EQUALS 146,684 SHARES BOUGHT BACK OUT OF 1,020,000 ISSUED
ANTI - DILUTIVE
BRIDGE WARRANTS-MAY
USING TREAS. STOCK METHOD
160,000 WARRANTS X $3, DIVIDED BY AVG. PRICE OF $5.72
EQUALS 73,395 SHARES BOUGHT BACK OUT OF 160,000 ISSUED
86,605 *39/181 18,661
----------------
3,227,177
================