EXHIBIT 11
GREASE MONKEY HOLDING CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(unaudited)
Quarters Ended Sept. 30, Nine Months Ended Sept. 30,
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1997 1996 1997 1996
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PRIMARY EARNINGS PER SHARE
Net income (loss) $ (281,205) 30,204 (364,893) (163,770)
Dividends on preferred stock (31,602) (31,602) (93,776) (94,163)
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Net income (loss) applicable to common stock $ (312,807) (1,398) (458,669) (257,933)
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Common shares outstanding 4,618,183 4,369,251 4,618,183 4,369,251
Effect of using weighted average common
and common equivalent shares (175,999) (4,987) (233,381) (13,686)
Effect of shares issuable under common stock
warrants using the treasury stock
method * * * *
Effect of shares issuable under stock options
using the treasury stock method * * * *
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Shares used in computing primary earnings
per share 4,442,184 4,364,264 4,384,802 4,355,565
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Primary earnings per common share $ (0.07) ** (0.10) (0.06)
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FULLY DILUTED EARNINGS PER SHARE
Net income (loss) $ (281,205) 30,204 (364,893) (163,770)
Dividends on preferred stock (31,602) (31,602) (93,776) (94,163)
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Net income (loss) as adjusted $ (312,807) (1,398) (458,669) (257,933)
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Shares used in computing primary earnings
per share 4,442,184 4,364,264 4,384,802 4,355,565
Effect of shares issuable upon conversion of
preferred stock * * * *
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Shares used in computing fully diluted
earnings per share 4,442,184 4,364,264 4,384,802 4,355,565
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Fully diluted earnings per common
share $ (0.07) ** (0.10) (0.06)
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* Antidilutive
** Less than $.01 per share