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Exhibit 11.1 Statement Regarding Computation of Net Income Per Share

                     Computation of Per Share Income (Loss)



                                                  For the three months ended March 31,
                                                ------------------------------------
                                                     1997                  1996
                                                     ----                  ----
                                                                        
Earnings per Common and
Common Equivalent Share:

Average Market Price/ Initial
Public Offering Price                             $     14.78         $     16.00
                                                                      
Weighted Average Common                                               
Shares Outstanding During Period:                  11,932,000           1,223,000
                                                                      
Shares of Common stock issued                                         
within the last twelve months                                         
preceding the initial filing date                          --           1,272,000
                                                  -----------         -----------
                                                   11,932,000           2,495,000
                                                                      
Common Stock Equivalents:                                             
                                                                      
Common Stock options and warrants                                     
granted within the last twelve months                                 
preceding the initial filing date                          --           1,375,000
                                                                      
Preferred Stock convertible into Common                               
Stock and sold within the last twelve months                          
preceding the initial filing date                          --           4,019,000
                                                                      
Incremental number of Shares arising                                  
from outstanding Common Stock                                         
options and warrants                                1,488,000                  --
                                                  -----------         -----------
                                                    1,488,000           5,394,000
                                                                      
Weighted average Common and Common                                    
Equivalent Shares                                  13,420,000           7,889,000
                                                                      
Net income (loss) for period                      $ 1,369,000         $(1,017,000)
                                                                      
Income (loss) per Share                           $      0.10         $     (0.13)

                                                                

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