EXHIBIT 11
AGEMARK CORPORATION
<TABLE>
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
<CAPTION>
THREE MONTHS ENDED NINE MONTHS ENDED
JUNE 30, JUNE 30,
------------------------ ------------------------
1999 1998 1999 1998
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Weighted average common shares actually outstanding 1,000,000 200 1,000,000 200
Stock options issued
January 1, 1999 at $1.10 per share 166,666 -- 166,666 --
January 1, 1999 at $1.00 per share 43,750 -- 43,750 --
---------- ----------
Total shares subject to options 210,416 -- 210,416 --
Total assumed proceeds of exercise $ 227,083 $ -- $ 227,083 $ --
Number of shares assumed purchased at 5.97/share (1) 38,037 -- 38,037 --
Net shares assumed issued at January 1, 1999 172,379 -- 172,379 --
Stock options issued April 1, 1999 at $1.00 per share 18,748 18,748
Total shares subject to options 18,748 18,748
Total assumed proceeds of exercise $ 18,748 $ 18,748
Number of shares assumed purchased at 5.97/share(1) 3,140 3,140
Net shares assumed issued at April 1, 1999 15,608 15,608
Weighted average common shares assumed outstanding for 1,187,986 200 1,120,122 200
period
</TABLE>
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(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.
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