AMERICAN ABSORBENTS NATURAL PRODUCTS, INC. EXHIBIT 1 - STATEMENT RE: COMPUTATION OF EARNINGS (LOSS) PER SHARE Basic earnings per share represents net earnings (loss) divided by the weighted-average number of common shares outstanding for the period. Diluted earnings per share represents net earnings (loss) divided by the weighted-average number of shares outstanding, inclusive of the dilutive impact of common stock equivalents. First Quarter (three months) Ended ----------------------------------- April 30, 2000 April 30, 1999 ---------------- ---------------- Basic and Diluted: Average Shares Outstanding 4,839,604 7,362,858 Net Loss $ (151,539) $ (197,298) Earnings (Loss) Per Share $ (0.03) $ (0.03)