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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 Three Quarters Ended
December 31, December 31, December 28, September 30, September 6,
1995 1996 1997 1997 1998
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Net loss applicable to holders of .. ($5,451) ($3,893,923) ($15,737,387) ($9,242,911) ($16,284,553)
common stock (2)
Weighted average number of
common shares outstanding .......... 4 33,162 38,127 38,009 29,056
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 38,009 29,056
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Basic and diluted net loss
per share (4) .................... ($1,362.75) ($117.42) ($412.76) ($243.18) ($560.45)
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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 three fiscal quarters ended
September 6, 1998, includes an extraordinary loss from early
extinguishment of debt of $11.48 per share.