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EXHIBIT 11.0
COMPUTATION OF PER SHARE LOSS
LOSS PER SHARE
We adopted Statement of Financial Accounting Standards ("SFAS") No. 128 for
the fiscal year ended March 31, 1998. SFAS No. 128 replaces the presentation of
primary and fully diluted loss per share with a presentation of basic earnings
per share and diluted loss per share, if dilutive shares are outstanding. Basic
loss per share excludes dilution and is computed by dividing income or loss
available to common stockholders by the weighted-average number of common shares
outstanding for the period. Diluted loss per share reflects the potential
dilution that could occur if securities or other contracts to issue common stock
were converted into common stock, but such securities or contracts are excluded
if their effects would be anti-dilutive. Pursuant to the requirements of Staff
Accounting Bulletin ("SAB") No. 98 of the Securities and Exchange Commission,
issued in February 1998, common equivalent shares which have an anti-dilutive
effect on net loss per share are no longer included in computing net loss per
share for the periods presented. All prior-period loss per share data has been
restated in accordance with SFAS No. 128 and SAB No. 98.
Basic loss per common share was calculated by dividing net loss by the
weighted average number of common shares outstanding during the period. Diluted
loss per share was calculated the same as basic loss per share since we have a
net loss for all periods presented which would make the conversion of securities
or other contracts to common stock anti-dilutive.
Year Ended
March 31
2000 1999
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Net Loss (10,140,118) (9,272,270)
Loss per common share - basic & diluted (1.13) (1.17)
Number of common shares - basic & diluted 8,948,488 7,903,197
