EXHIBIT 11
AGEMARK CORPORATION
STATEMENT REGARDING COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
THREE MONTHS ENDED SIX MONTHS ENDED
MARCH 31, MARCH 31,
-------------------------- --------------------------
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 -
Weighted average common shares assumed outstanding for 1,172,379 200 1,086,189 200
period
</TABLE>
____________________
(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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