EXHIBIT 11
MEDJET INC.
COMPUTATION OF NET INCOME (LOSS) PER SHARE
Three Months Ended Nine Months Ended
September 30, September 30,
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2000 1999 2000 1999
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NET INCOME (LOSS) PER SHARE
Income (Loss) from Operations
Applicable to Common Stock $ (182,364) $ (358,293) $ (517,898) $ (910,459)
Weighted Average Common Shares Outstanding 3,901,431 3,901,431 3,901,431 3,891,555
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Net Income (Loss) Per Share $ 0.05 $ (0.09) $ (0.13) $ (0.23)
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NET INCOME (LOSS) PER SHARE -
ASSUMING DILUTION (See "NOTE")
Income (Loss) from Operations
Applicable to Common Stock $ (182,364) $ (358,293) $ (517,898) $ (910,459)
========== ========== ========== ==========
Weighted Average Common Shares Outstanding 3,901,431 3,901,431 3,901,431 3,891,555
Add: (A) Assumed Conversion of Preferred Stock 1,040,000 - 1,040,000 -
(B) Assumed Exercise of Stock Options 15,289 66,921 58,271 77,450
(C) Assumed Exercise of Warrants - 12,687 15,455
Weighted Average Common Shares
Outstanding - Assuming Dilution 4,956,720 3,981,038 4,999,702 3,984,460
========== ========== ========= ==========
Net Income (Loss) Per Share - Assuming Dilution $ 0.04 $ (0.09) $ (0.10) $ (0.23)
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NOTE:
The calculation for Net Income (Loss) Per Common Share - Assuming Dilution is
submitted in accordance with Securities Exchange Act of 1934 Release No. 9083
although not required by Financial Accounting Standards Board No. 128 "Earnings
Per Share" ("FASB 128") since the results are dilutive for the three month
period ended September 30, 2000. This is applicable to the period for the
three-month ended September 30, 2000. Although not required for the nine months
ended September 30, 2000, and the three and nine months period in 1999.
(A) - For 2000, the dilutive options (i.e., the average market price is greater
than the exercise price), assume that options are exercised and proceeds
realized as indicated below. Next, using the treasury stock method with the
average market price per share during each period and the total shares assumed
to be reacquired as of the beginning of each period, the additional shares
included as outstanding are indicated below.
Period Ended September 30, 2000
Three Months Nine Months
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Options assumed exercised 132,050 285,050
Proceeds assumed realized $ 86,403 $222,243
Shares assumed reacquired:
- - During three months ($86,403/$.74) 116,761
- - During nine months ($222,243/$.98) 226,779
Net additional shares assumed outstanding 15,289 58,271
For 1999, the dilutive options (i.e., the average market price is greater than
the exercise price), assume that options are exercised and proceeds realized as
indicated below. Next, using the treasury stock method with the average market
price per share during each period and the total shares assumed to be reacquired
as of the beginning of each period, the additional shares included as
outstanding are indicated below.
Period Ended September 30, 1999
Three Months Nine Months
------------ -----------
Options assumed exercised 207,550 247,550
Proceeds assumed realized $188,443 $243,243
Shares assumed reacquired:
- - During three months ($188,443/$1.34) 140,629
- - During nine months ($243,243/$1.43) 170,100
Net additional shares assumed outstanding 66,921 77,450
(B) - For 2000, the dilutive warrants (i.e., the average market price is greater
than the exercise price), assume that warrants are exercised and proceeds
realized as indicated below. Next, using the treasury stock method with the
average market price per share during each period and the total shares assumed
to be reacquired as of the beginning of each period, the additional shares
included as outstanding are indicated below.
Period Ended September 30, 2000
Three Months Nine Months
------------ -----------
Warrants assumed exercised - -
Proceeds assumed realized - -
Shares assumed reacquired:
- - During three months ($-0-/$.74) -
- - During nine months ($-0-/$.98)
Net additional shares assumed outstanding -
For 1999, the dilutive warrants (i.e., the average market price is greater than
the exercise price), assume that warrants are exercised and proceeds realized as
indicated below. Next, using the treasury stock method with the average market
price per share during each period and the total shares assumed to be reacquired
as of the beginning of each period, the additional shares included as
outstanding are indicated below.
Period Ended September 30, 1999
Three Months Nine Months
------------ -----------
Warrants assumed exercised 50,000 60,000
Proceeds assumed realized $50,000 $63,700
Shares assumed reacquired:
- - During three months ($50,000/$1.34) 37,313
- - During nine months ($63,700/$1.43) 44,545
Net additional shares assumed outstanding 12,687 15,455