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TALK VISUAL CORPORATION
COMPUTATION OF WEIGHTED AVERAGE COMMON STOCK SHARES OUTSTANDING
<TABLE>
<CAPTION>
Three Months Six Months
Total Number Ended Ended
of Shares June 30, 1999 June 30, 1999
--------- ------------- -------------
<S> <C> <C> <C> <C>
Outstanding shares as of January 1, 2000 32,060,977 32,060,977 32,060,977
Issuance of shares to former employee 01/14/00 10,000 10,000 9,282
Private placements on 01/31/00 1,979,284 1,979,284 1,651,226
Exercise of options on 01/31/00 150,000 150,000 125,138
Preferred stock exchange on 02/24/00 1,150,000 1,150,000 806,906
Exercise of options on 02/28/00 50,000 50,000 33,978
Preferred stock exchange on 03/03/00 2,000,000 2,000,000 1,314,917
Exercise of options on 03/14/00 450,000 450,000 268,508
Exercise of options on 03/16/00 450,000 450,000 263,536
Debt exchange on 03/23/00 100,000 100,000 54,696
Issue of common shares for services on 03/27/00 45,000 45,000 23,619
Private placements on 03/27/00 2,262,038 2,262,038 1,187,258
Preferred stock exchange on 04/18/00 2,170,590 1,741,243 1,741,243
Preferred stock exchange on 05/01/00 1,000,000 659,341 659,341
Preferred stock exchange on 05/30/00 1,348,202 459,278 459,278
Preferred stock exchange on 06/14/00 1,000,000 175,824 175,824
Issue of common shares for services on 06/29/00 157,250 1,728 1,728
Exercise of options on 06/29/00 841,935 9,252 9,252
Private placements on 06/29/00 3,412,968 37,505 37,505
---------- ----------- -----------
Total Weighted Average Shares Outstanding 50,638,244 43,791,469 40,884,211
========== =========== ===========
Net Loss before extraordinary item $(1,296,472) $(2,199,234)
Extraordinary item - 122,347
----------- -----------
Net Loss after extraordinary item $(1,296,472) $(2,076,887)
=========== ===========
Net loss per common share before extraordinary item $ (0.02) $ (0.05)
Extraordinary item - 0.00
Net Loss per common share (1) $ (0.02) $ (0.05)
</TABLE>
(1) The effect of common stock options and warrants are excluded from diluted
earnings per share as their inclusion would be anti-dilutive for the three month
and six month periods ending June 30, 2000.
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