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EXHIBIT 11
EARNINGS PER SHARE COMPUTATIONS
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30 JUNE 30
1996 1995 1996 1995
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1. CANADIAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
1.0(a) BASIC EARNINGS PER SHARE
Net earnings (loss) (2,931,000) 160,000 (4,897,000) 1,210,000
Weighted average shares outstanding 46,181,661 41,946,876 46,145,088 38,085,045
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Basic Earnings Per Share (0.06) NIL (0.11) 0.03
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1.0(b) FULLY DILUTED EARNINGS PER SHARE
Net earnings (loss) (2,931,000) 160,000 (4,897,000) 1,210,000
Interest income from cash from stock options 16,098 15,916 32,196 31,831
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Adjusted net earnings (loss) (2,914,902) 175,916 (4,864,804) 1,241,831
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Weighted average shares outstanding 46,181,661 41,946,876 46,145,088 38,085,045
Stock options deemed exercised 396,250 551,250 396,250 551,250
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Adjusted weighted average shares outstanding 46,577,911 42,498,126 46,541,338 38,636,295
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Fully diluted earnings per share (0.06) NIL (0.10) 0.03
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