EXHIBIT 11 COMPUTATION OF PER SHARE DATA (UNAUDITED) Three Months Ended -------------------------- March 31, March 31, 1997 1996 --------- --------- Net loss $ (320,000) $ (253,000) Preferred Stock dividend (102,000) (97,000) ----------- ----------- Loss applicable to Common Stock $ (422,000) $ (350,000) =========== =========== Primary: Weighted average number of common shares outstanding 4,681,765 4,681,765 =========== =========== Net loss per share of Common Stock (primary): $ (.09) $ (.07) =========== =========== Assuming Full Dilution: Weighted average number of common shares outstanding 4,681,765 4,681,765 =========== =========== Net loss per share of Common Stock (assuming full dilution) (a) $ (.09) $ (.07) =========== =========== (a) Not presented because dilution is less than 3 percent from primary amounts. 11