Exhibit 11.0 - Computation of Earnings per Share The following represents the computation of earnings per share reflecting the assumption that the granted shares under the option and warrants plan which would be dilutive will be exercised. Three Months Ended Nine Months Ended September 30, September 30, ---------------------------- ---------------------------- 2001 2000 2001 2000 ----------- ----------- ----------- ----------- Net Earnings: Basic and diluted $ 182,876 $ 77,868 $ 862,506 $ 708,219 =========== =========== =========== =========== Weighted average common shares outstanding 12,264,163 12,272,792 12,198,583 12,133,675 Common share equivalents relating to stock options and warrants 239,214 509 201,480 12,669 =========== =========== =========== =========== Adjusted common and common equivalent shares for diluted computation 12,503,377 12,273,301 12,400,063 12,146,344 Net Earnings Per Share: Basic $ 0.01 $ 0.01 $ 0.07 $ 0.06 Diluted $ 0.01 $ 0.01 $ 0.07 $ 0.06 The accompanying notes are an integral part of the financial statements.