Exhibit 11. Statement Regarding Computation of Per Share Earnings For the three months end March 31, --------------------------- 1996 1997 ---- ---- Net loss $ (567,965) $(3,224,778) Weighted average number of common shares outstanding: Weighted average number of common shares outstanding 6,121,333 15,780,288 Common shares issuable upon conversion of preferred stock 5,930,750 Incremental common shares outstanding from the exercise of stock options granted within one year of initial public offering 258,686 ----------- ------------ 12,310,769 15,780,288 =========== ============ Net loss per common share $ (0.05) $ (0.20) =========== ============