EXHIBIT 11
AGEMARK CORPORATION
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
Year Ended
September 30,
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1999 1998
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<S> <C> <C>
Common shares actually outstanding, beginning of period 1,000,000 200
Shares cancelled, September 29,1998 (200)
Issuance of shares to partnerships 1,000,000
Weighted average common shares actually outstanding 1,000,000 2,939
Stock options issued
January 1, 1999 at $1.10 per share 166,666 -
January 1, 1999 at $1.00 per share 43,750 -
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Total shares subject to options 210,416 -
Total assumed proceeds of exercise $ 227,083 -
Number of shares assumed purchased at 5.97 / share (1) 38,037 -
Net shares assumed issued at January 1, 1999 172,379 -
Stock options issued April 1, 1999
At $1.00 per share 18,748
Total shares subject to options 18,748
Total assumed proceeds of exercise $ 18,748
Number of shares assumed purchased at 5.97 / share (1) 3,140
Net shares assumed issued at April 1, 1999 15,608
Weighted average common shares assumed outstanding for period 1,137,088 2,939
<FN>
(1) There is no market for the Company's shares. For computational purposes the
value assumed is the September 30, 1998 book value per share.
</FN>
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