<PAGE> 1
EXHIBIT 11
COMPUTATION OF NET INCOME PER SHARE
FOR THREE AND SIX MONTHS ENDED SEPTEMBER 30, 1999
<TABLE>
<CAPTION>
For the Three Month Period
--------------------------------------------------
September 30, 1999 September 30, 1998
------------------------ -----------------------
<S> <C> <C>
Net income............................................... $ 259,433 $ 193,211
Weighted average shares outstanding...................... 2,223,218 2,203,562
Earning per shares outstanding........................... $ 0.12 $ 0.09
</TABLE>
<TABLE>
<CAPTION>
For the Six Month Period
--------------------------------------------------
September 30, 1999 September 30, 1998
------------------------ -----------------------
<S> <C> <C>
Net income............................................... $ 1,046,329 $ 511,263
Weighted average shares outstanding...................... 2,220,784 2,201,306
Earning per shares outstanding........................... $ 0.47 $ 0.23
</TABLE>