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EXHIBIT 11.1
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UNIFIED FINANCIAL SERVICES, INC.
EARNINGS PER SHARE CALCULATION
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NINE MONTHS ENDED THREE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
INCOME AVAILABLE TO COMMON STOCKHOLDERS
Net income (loss) ......................................... $(1,364,556) $ (484,050) $ 177 $ (483,166)
Preferred dividends ....................................... -- -- -- --
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Income available to common
stockholders ........................................... $(1,364,556) $ (484,050) $ 177 $ (483,166)
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CALCULATION OF COMMON STOCK
Common shares outstanding at beginning
of period .............................................. 2,869,862 2,267,449 2,879,712 2,585,042
Shares issues re: acquisition of M. Wilson and Associates -- 3,636 -- --
Shares issued re: acquisition of Fully Armed Production .. -- 18,182 -- --
Shares issued re: acquisition of Commonwealth
Investment Services .................................... -- 27,500 -- --
Shares issued in private placement during period .......... 11,530 213,550 1,680 52,470
Shares issued upon conversion of Series C
preferred stock ........................................ -- 290,520 -- 136,215
Repurchase of common stock ................................ (1,364) (47,110) (1,364) --
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Common shares used in basic calculation ................ 2,880,028 2,773,727 2,880,028 2,773,727
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Common stock equivalent of options ........................ 170,797 100,713 170,797 100,713
Preferred stock Series C conversion in common stock ....... -- 71,415 -- 71,415
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Common shares used in fully diluted calculation ........ 3,050,825 2,945,855 3,050,825 2,945,855
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EARNINGS PER SHARE
Basic ..................................................... $ (0.47) $ (0.17) $ -- $ (0.17)
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Fully diluted ............................................. $ (0.45) $ (0.16) $ -- $ (0.16)
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