1 EXHIBIT 11 CAPITAL INVESTMENT OF HAWAII, INC. AND SUBSIDIARIES Computation of Loss Per Common Share YEARS ENDED JULY 31, ------------------------------------------------------------------- 1998 1997 1996 1995 1994 ----------- ----------- ----------- ----------- ----------- Loss from continuing operations $ (615,884) (420,934) (17,033) (247,298) (514,690) Gain (loss) from discontinued operations 349,017 (426,050) (356,325) (560,628) (908,763) ----------- ----------- ----------- ----------- ----------- Net loss applicable to common shareholders $ (266,867) (846,984) (373,358) (807,926) (1,423,453) =========== =========== =========== =========== =========== Divided by weighted average number of common shares outstanding during the year 1,032,683 1,032,683 1,032,683 1,032,683 1,032,683 =========== =========== =========== =========== =========== Loss per common share: Continuing operations (.60) (.41) (.02) (.24) (.50) Discontinued operations .34 (.41) (.34) (.54) (.88) ----------- ----------- ----------- ----------- ----------- Net loss (.26) (.82) (.36) (.78) (1.38) =========== =========== =========== =========== ===========