1
EXHIBIT 11.1
AWARE, INC.
COMPUTATION OF PRIMARY AND FULLY DILUTED
NET INCOME (LOSS) PER SHARE
THREE MONTHS ENDED
SEPTEMBER 30,
--------------------------
1996 1995
----------- -----------
Net income ......................................................... $ 261,683 $ 179,965
=========== ===========
Weighted average number of common and common stock equivalent shares
outstanding:
Common stock ................................................. 15,014,883 1,166,927
Convertible preferred common stock equivalents ............... 2,058,232 12,799,775
Option common stock equivalent shares ........................ 1,998,719 228,321
Effect of SAB 83 ............................................. -- 882,289
----------- -----------
Common and common stock equivalent shares outstanding for
purpose of calculating primary net income per share .. 19,071,834 15,077,312
Incremental shares to reflect full dilution .................. 335,411 --
----------- -----------
Total shares for purpose of calculating fully diluted net
income per share ..................................... 19,407,245 15,077,312
=========== ===========
Primary net income per share ....................................... $ 0.01 $ 0.01
=========== ===========
Fully diluted net income per share ................................. $ 0.01 $ 0.01
=========== ===========
NINE MONTHS ENDED
SEPTEMBER 30,
--------------------------
1996 1995
----------- ----------
Net income (loss) .................................................. $ 351,501 $ (437,530)
=========== ==========
Weighted average number of common and common stock equivalent shares
outstanding:
Common stock ................................................. 8,145,160 1,161,304
Convertible preferred common stock equivalents ............... 7,289,474 --
Option common stock equivalent shares ........................ 1,710,345 --
Effect of SAB 83 ............................................. 400,010 882,289
----------- ----------
Common and common stock equivalent shares outstanding for
purpose of calculating primary net income (loss) per
share ................................................ 17,544,989 2,043,593
Incremental shares to reflect full dilution .................. 614,609 --
----------- ----------
Total shares for purpose of calculating fully diluted net
income (loss) per share .............................. 18,159,598 2,043,593
=========== ==========
Primary net income (loss) per share ................................ $ 0.02 $ (0.21)
=========== ==========
Fully diluted net income (loss) per share .......................... $ 0.02 $ (0.21)
=========== ==========