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EXHIBIT 11
HealthGrades.com, Inc. and Subsidiaries
Computation of Per Share Earnings
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<CAPTION>
FOR THE FOR THE FOR THE FOR THE
THREE THREE SIX SIX
MONTHS MONTHS MONTHS MONTHS
ENDED ENDED ENDED ENDED
JUNE 30, 2000 JUNE, 1999 JUNE 30, 2000 JUNE, 1999
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<S> <C> <C> <C> <C>
Weighted average
Shares outstanding 21,522,105 15,686,434 17,512,743 16,031,953
Effect of dilutive securities:
Employee stock options -- 702,114 -- 351,149
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Weighted average number of
Common shares and common
Share equivalents used in
Computation 21,522,105 16,388,548 17,512,743 16,383,102
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Net (loss) income $ (424,195) $ 2,169,073 $(2,564,612) $ 1,876,249
=========== =========== =========== ===========
Net (loss) income per common
share (basic) $ (0.02) $ 0.14 $ (0.15) $ 0.12
=========== =========== =========== ===========
Net (loss) income per common
share (diluted) $ (0.02) $ 0.13 $ (0.15) $ 0.11
=========== =========== =========== ===========
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