1 EXHIBIT 11 NANOPHASE TECHNOLOGIES CORPORATION STATEMENT REGARDING COMPUTATION OF LOSS PER SHARE THREE MONTHS ENDED MARCH 31, ---------------------------- 1998 1997 ------------ ------------- (Unaudited) HISTORICAL: Weighted average common shares outstanding . . . . . . . . . . . . . . . . . 12,277,467 77,586 ============ ============= Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (887,400) $ (1,238,191) ============ ============= Net loss per common share . . . . . . . . . . . . . . . . . . . . . . . . . . $ (0.07) $ (15.96) ============ ============= PRO FORMA: Weighted average common shares outstanding . . . . . . . . . . . . . . . . . n/a 77,586 Weighted average preferred shares outstanding . . . . . . . . . . . . . . . . n/a 7,408,354 ------------ ------------- Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . n/a 7,485,940 ============ ============= Net loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . n/a $ (1,238,191) ============ ============= Pro forma net loss per common share . . . . . . . . . . . . . . . . . . . . . n/a $ (0.17) ============ =============