1 EXHIBIT 11 STATEMENT RE COMPUTATION OF PER SHARE EARNINGS For the three For the three For the nine For the nine months months months months ended ended ended ended September 30, September 30, September 30, September 30, Primary Fully diluted Primary Fully diluted Weighted average shares outstanding 3,385,805 3,385,805 3,385,805 3,385,805 Dilutive effect of common stock equivalents 246,599 246,599 180,171 246,599 Weighted average common and common equivalent shares outstanding 3,632,404 3,632,404 3,565,976 3,632,404 ===================================================================== Net Income $63,197 $63,197 $265,403 $265,403 ===================================================================== Net income per common share $ 0.02 $ 0.02 $ 0.07 $ 0.07 ===================================================================== -11-