1 EXHIBIT 11 NANOPHASE TECHNOLOGIES CORPORATION STATEMENTS REGARDING COMPUTATION OF LOSS PER SHARE YEARS ENDED DECEMBER 31, ------------------------------------------------------------ 1997 1998 1999 ---- ---- ---- HISTORICAL: Weighted average common shares outstanding 1,283,359 12,416,305 12,690,483 ================= ================ ================ Net loss $ (3,072,470) $ (5,633,880) $ (5,117,067) ================= ================ ================ Net loss per common share $ (2.39) $ (0.45) $ (0.40) ================= ================ ================ PRO FORMA: Weighted average common shares outstanding 1,283,359 N/A N/A Weighted average preferred shares outstanding 6,924,947 N/A N/A ----------------- Total 8,208,306 N/A N/A ================= Net loss $ (3,072,470) N/A N/A ================= Pro forma net loss per common share $ (0.37) N/A N/A =================