Exhibit 11 COMMERCE GROUP CORP. AND CONSOLIDATED SUBSIDIARIES SCHEDULE OF COMPUTATION OF NET INCOME PER SHARE Years Ended March 31 2004 2003 2002 -------- ---- -------- ---- -------- ---- BASIC Net income (loss) for primary income per common share $ (14,381) $ (35,886) $ (43,171) ============== ============== ============== Weighted average number of common shares outstanding during the year - basic 21,089,812 18,907,958 16,349,170 == ========== == ========== == ========== Income (loss) per common share - basic $ (.0007) $ (.0019) $ (.0026) ============== ============== ============== DILUTED Net income (loss) for basic and diluted income per common share $ (14,381) $ (35,886) $ (43,171) ============= ============= ============= Weighted average number of common shares used in calculating income per common share 21,089,812 18,907,958 16,349,170 Add incremental shares representing: Shares issuable upon exercise of stock options 210,000 960,000 670,000 ----- ------- ----- ------- ----- ------- Weighted average number of shares used in calculation of fully diluted income per share 21,299,812 19,867,958 17,109,170 ========== ========== ========== Fully diluted income (loss) per common share $ (.0007) $ (.0018) $ (.0025) ============ ============ ============