Exhibit 11.1
Ciro International, Inc. and Subsidiaries
Statement Re: Computation of Per Share Earnings (Unaudited)
<TABLE>
<CAPTION>
Quarters Six Months
Periods Ended June 30 2000 1999 2000 1999
----------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Basic Earnings Per Share:
Net Loss: $(21,868) $(5,150) $(14,216) $(10,919)
Weighted Average Shares Outstanding 7,160,000 7,160,000 7,160,000 7,160,000
Basic Earnings Per Share -- -- -- --
========= ========= ========= =========
</TABLE>