Exhibit 11.1
Ciro International, Inc. and Subsidiaries
Statement Re: Computation of Per Share Earnings (Unaudited)
<TABLE>
<CAPTION>
Quarters Nine Months
Periods Ended September 30 2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Basic Earnings Per Share:
Net Loss: $ (2,504) $ (6,961) $ (16,718) $ (17,880)
Weighted Average Shares Outstanding 7,160,000 7,160,000 7,160,000 7,160,000
Basic Earnings Per Share -- -- -- --
========= ========= ========== =========
</TABLE>
