Exhibit 11
COMPUTATION OF PER SHARE AMOUNTS
Twelve months ended
December 31, 1998
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1998 1997
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Net loss $ (2,769,046) $ (1,799,146)
Series B preferred stock dividend
(17,578) (40,692)
Series C redeemable preferred
stock dividend and accretion
(79,873) -
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Loss applicable to common shareholders $ (2,866,497) $ (1,839,838)
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Basic and diluted weighted average shares outstanding 51,484,605 22,339,773
Common equivalent shares representing shares issuable upon 14,214,599 5,285,212
exercise of stock options
Add back of common equivalents shares due to antidilutive shares (14,214,599) (5,285,212)
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Dilutive adjusted weighted average shares 51,484,605 22,339,773
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Basic net loss per share
(0.06) (0.08)
Diluted net loss per share
(0.06) (0.08)