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EXHIBIT 11.1
SPINCYCLE, INC.
COMPUTATION OF HISTORICAL NET LOSS PER SHARE
(ALL AMOUNTS ACTUAL)
Historical Net Loss per Share (1)
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Fiscal Year Ended Fiscal Two Quarters Ended
December 31, December 31, December 28, June 30, June 14,
1995 1996 1997 1997 1998
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Net loss applicable to holders of .. ($5,451) ($3,893,923) ($15,737,387) ($5,047,634) ($10,394,628)
common stock (2)
Weighted average number of
common shares outstanding .......... 4 33,162 38,127 37,766 29,703
Weighted average number of
common equivalent shares
outstanding (3) .................... -- -- -- -- --
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Weighted average number of
common and common equivalent
shares outstanding ................. 4 33,162 38,127 37,766 29,703
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Basic and diluted net loss
per share (4) .................... ($1,362.75) ($117.42) ($412.76) ($133.66) ($349.95)
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(1) See discussion of computation of historical net loss per share in Note
2 to Consolidated Financial Statements.
(2) The Company's 1995 fiscal year is for the period from October 10, 1995
(inception) through December 31, 1995.
(3) Due to the Company's net losses to date, inclusion of common equivalent
shares in the computation of diluted net loss per share would be
antidilutive and therefore is not presented.
(4) Diluted net loss per share for the two fiscal quarters ended June 14,
1998, includes an extraordinary loss from early extinguishment of debt
of $11.23 per share.