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Previous: CHANCELLOR CORP, 10QSB/A, 2000-08-04 |
Next: RESERVE NEW YORK TAX EXEMPT TRUST, 497J, 2000-08-04 |
EXHIBIT 11
CHANCELLOR CORPORATION AND SUBSIDIARIES
Computation of Earnings Per Share
The following table reflects the calculation of the earnings per share:
<TABLE>
<CAPTION>
Weighted Average
Net Common Shares
Income Outstanding
------ ----------------
(numerator) (denominator)
Quarter ended March 31, 1999 In thousands, except share and per share data
<S> <C> <C> <C>
Earnings from Operations $ 93 43,240,194
Basic earnings per common share $ 0.00
Effect of dilutive securities
Convertible preferred shares - - - 5,000,000
Warrant - VCC - - - 7,142,857
Vested Employee Options - - - 163,402
----------- ------------
$ 93 55,546,453
=========== ============
Diluted earnings per common share $ 0.00
Quarter ended March 31, 1998
Earnings from operations $ 27 25,403,127
=========== ============
Basic and diluted earnings per common share $ 0.00
</TABLE>
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