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EXHIBIT 11.01
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
The numerators and denominators of basic and diluted earnings per share are as
follows:
<TABLE>
<CAPTION>
1999 2000
<S> <C> <C>
Numerator - Net income (loss) as reported $ (672,800) $(5,235,835)
Denominator - Weighted average number of shares outstanding 10,084,200 11,842,483
Effect of dilutive securities -- --
Diluted weighted average number of shares outstanding 10,084,200 11,842,483
Basic earnings (loss) per share $ (0.07) $ (0.44)
Diluted earnings (loss) per share $ (0.07) $ (0.44)
</TABLE>
As described in Note -- of the Financial Statements, during 2000 the Company
granted stock options and warrants to purchase up to 1,550,000 shares. These
shares were not included in computing diluted earnings per share because their
effects were antidilutive.
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