EXHIBIT 11
COMMERCE GROUP CORP. AND CONSOLIDATED SUBSIDIARIES
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SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE
Years Ended March 31
2002 2001 2000
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BASIC
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Net income (loss) for
primary income per
common share $ (43,171) $ 129,790 $ (396,232)
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Weighted average
number of common
shares outstanding
during the year - basic 16,349,170 14,174,662 12,172,867
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Income (loss) per
common share - basic $ (.0026) $ .0092 $ (.0326)
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DILUTED
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Net income (loss) for
basic and diluted
income per common share $ (43,171) $ 129,790 $ (396,232)
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Weighted average number
of common shares used
in calculating income per
common share 16,349,170 14,174,662 12,172,867
Add incremental shares
representing:
Shares issuable upon
exercise of stock
options 670,000 920,000 1,254,900
Shares issuable upon
payment of stock loans
and interest 0 0 0
Stock rights 0 0 625,235
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Weighted average number
of shares used in
calculation of fully
diluted income per share 17,109,170 15,094,662 14,053,002
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Fully diluted income
(loss) per common
share $ (.0025) $ .0086 $ (.0282)
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