EXHIBIT 11.01 STATEMENT OF COMPUTATION OF PER SHARE EARNINGS.
Three Months Ended March 31
1999 1998
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I. CANADIAN GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
(a) BASIC EARNINGS PER SHARE
Net earnings (loss) $(3,045) $2,179
Weighted average shares outstanding 90,715,040 89,152,540
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Basic earnings per share $(0.03) $0.02
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(b) FULLY DILUTED EARNINGS PER SHARE
Net earnings (loss) $(3,045) $2,179
Interest income from cash from stock options - -
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Adjusted net earnings (loss) $(3,045) $2,179
Weighted average shares outstanding 90,715,040 89,152,540
Stock options deemed exercised 125,000 -
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Adjusted weighted average shares outstanding 90,840,040 89,152,540
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Fully diluted earnings per share $(0.03) $0.02
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II. UNITED STATES GENERALLY ACCEPTED ACCOUNTING PRINCIPLES
(a) BASIC EARNINGS PER SHARE
Net earnings (loss) per U.S. GAAP $(2,862) $3,392
Weighted average shares outstanding 90,715,040 89,152,540
Common stock equivalents - stock options 125,000 -
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Adjusted weighted average shares outstanding 90,840,040 89,152,540
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Basic earnings per share $(0.03) $0.04
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(b) FULLY DILUTED EARNINGS PER SHARE
Net earnings (loss) per U.S. GAAP $(2,862) $3,392
Weighted average shares outstanding 90,715,040 89,152,540
Stock options deemed exercised 125,000 -
Shares deemed repurchased (107,143) -
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Adjusted weighted average shares outstanding 90,732,897 89,152,540
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Fully diluted earnings per share $(0.03) $0.04
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