1 EXHIBIT 11 -- SCHEDULE OF COMPUTATION OF NET LOSS PER SHARE 1996 1995 ---------- ---------- Net Loss (763,581) (132,662) Weighted average number of common shares equivalent: Common shares outstanding 3,328,070 2,031,280 Common equivalent shares representing shares issuable upon exercise of stock warrants (1) -- 46,000(3) ---------- ---------- Total weighted average shares-primary 3,328,070 2,031,280 Incremental common equivalent shares (calculated using the higher of end of period or average fair market value) -- -- ---------- ---------- Total weighted average shares - fully diluted 3,328,000 2,077,280 Primary net loss per common and equivalent share $ (0.23) $ (0.06) Fully diluted loss per common and equivalent share $ (0.23) $ (0.06) Additional adjustment to fully diluted weighted average shares (2) Total weighted average shares - fully diluted 3,328,070 2,077,280 Common equivalent shares representing shares issuable upon exercise of stock warrants (2) 86,219 -- ---------- ---------- Total weighted average shares - fully diluted as adjusted 3,414,289 2,077,280 Fully diluted net loss per common and $ (0.22) $ (0.06) equivalent share, as adjusted (2) (1) Amount calculated using the treasury stock method and fair market value (2) This calculation is submitted in accordance with regulation S-K Item 601 (b) (11) although it is contrary to paragraph 40 of APB Opinion No. 15 because it produces an antidilutive result. (3) These shares of common stock equivalents were included in the calculation even though they produced an antidilutive effect in accordance with SAB 83. 13