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COMPUTATION OF EARNINGS PER COMMON SHARE
EXHIBIT 11
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<CAPTION>
NINE MONTHS ENDED THREE MONTHS ENDED
MAY 31, MAY 31,
2000 1999 2000 1999
--------- --------- --------- ----------
<S> <C> <C> <C> <C>
AVERAGE MARKET PRICE PER SHARE $ 2.24 $ 1.30 $ 2.08 $ 2.10
========= ========= ========= ==========
NET INCOME (LOSS) ($296,482) $ 611,352 ($463,591) $ 277,822
========= ========= ========= ==========
Basic weighted average number of common
shares outstanding 3,141,703 2,939,976 3,166,425 2,978,448
--------- --------- --------- ----------
Diluted effect of stock options -- 212,848 -- 432,517
--------- --------- --------- ----------
Diluted weighted average number of common
shares outstanding 3,141,703 3,152,824 3,166,425 3,410,965
========= ========= ========= ==========
Basic earnings (loss) per share ($ .09) $ .21 ($ .15) $ .09
========= ========= ========= ==========
Diluted earnings (loss) per share ($ .09) $ .19 ($ .15) $ .08
========= ========= ========= ==========
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11