1 EXHIBIT 11 NANOPHASE TECHNOLOGIES CORPORATION STATEMENT REGARDING COMPUTATION OF LOSS PER SHARE (UNAUDITED) THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, ------------------------------- ------------------------------ 1998 1997 1998 1997 ------------ ------------ ------------ ------------ HISTORICAL: Weighted average common shares outstanding 12,310,154 77,586 12,293,900 77,586 ============ ============ ============ ============ Net loss $ (1,599,414) $ (1,427,700) $ (2,486,814) $ (2,665,891) ============ ============ ============ ============ Net loss per common share $ (0.13) $ (18.40) $ (0.20) $ (34.36) ============ ============ ============ ============ PRO FORMA: Weighted average common shares outstanding n/a 77,586 n/a 77,586 Weighted average preferred shares outstanding n/a 7,412,652 n/a 7,410,514 ------------ ------------ ------------ ------------ Total n/a 7,490,238 n/a 7,488,100 ============ ============ ============ ============ Net loss n/a $ (1,427,700) n/a $ (2,665,891) ============ ============ ============ ============ Pro forma net loss per common share n/a $ (0.19) n/a $ (0.36) ============ ============ ============ ============