EXHIBIT 11
1ST NET TECHNOLOGIES, INC.
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
FOR THE YEARS ENDED
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DECEMBER 31, DECEMBER 31,
1999 1998
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<S> <C> <C>
Net loss.... . ....................................... $(5,238,406) $ (652,884)
Weighted average number of common shares
outstanding......................................... 5,682,147 4,018,697
Total number of shares for computing primary
fully diluted and earnings per share................. 5,682,147 4,018,697
Primary loss per share... . . ........................ $ (.92) $ (0.16)
Fully diluted loss per share ......................... $ (.92) $ (0.16)
</TABLE>
Earnings per share is computed in accordance with SFAS No. 128,
Earnings Per Share and SEC Staff Accounting Bulletin (or SAB) No. 98.
Under the provisions of SFAS No. 128, basic earnings per share is computed
by dividing the net loss for the period by the weighted average number of
common shares outstanding during the period. Diluted earnings per share is
computed by dividing the net loss for the period by the weighted average
number of common and common equivalent shares outstanding during the
period. Under the provisions of SAB No. 98, common shares issued for
nominal consideration are included in the per share calculations as if they
were outstanding for all periods presented.
Weighted average shares outstanding of 5,682,147 and 4,018,697 for the
years ended December 31, 1999 and 1998, respectively includes common stock
outstanding as well as common shares issued for nominal consideration as if
the shares were outstanding for all periods presented. Potentially
dilutive securities include options, warrants and preferred stock that were
excluded from basic and diluted earnings per share because of their anti-
dilutive effect. Anti-dilutive securities outstanding totaled 336,200 and
10,000 at December 31, 1999 and 1998, respectively.
