MOTORVAC TECHNOLOGIES, INC. CALCULATION OF PROFORMA NET LOSS PER SHARE FOR THE THREE MONTHS ENDED JUNE 30, 1996 AND FOR THE SIX MONTHS ENDED JUNE 30, 1996 Three Months Three Months Six Months Ended Ended Ended March 31, 1996 June 30, 1996 June 30, 1996 -------------- -------------- --------------- Proforma Net Loss: Net Loss (297,443) (254,643) (552,086) Proforma Reduction of Interest Expense 106,263 26,153 132,416 -------------- -------------- --------------- Proforma Net Loss (191,180) (228,490) (419,670) ============== ============== =============== Proforma Weighted Average Outstanding Common and Common Equivalent Shares: Common Stock Outstanding December 31, 1995 948,000 Common stock equivalents: Conversion of Series A Preferred Stock 966,247 Conversion of Series B Preferred Stock 570,150 Common Shares issued in Initial Public Offering 1,100,000 Conversion of $4,410,300 of Notes Payable to Related party 820,521 -------------- Common Stock Equivalents before below 4,404,918 4,404,918 4,404,918 Common stock issued in Overallotment on June 15, 1995 110,000 110,000 Weighting of overallotment Stock (15 days) 18,132 9,066 Incremental Shares, assuming exercise of options granted after June 30, 1996 6,467 11,624 4,294 Incremental Shares Related to repayment of Interest 19,770 4,866 24,636 -------------- -------------- --------------- Total Incremental Shares 26,237 34,622 37,996 -------------- -------------- --------------- Proforma Weighted Average Outstanding Common and Common Equivalent Shares 4,431,155 4,439,540 4,442,914 ============== ============== =============== Proforma Net Loss per Common Share and Common Share equivalent (0.0431) (0.0515) (0.0945) ============== ============== ===============