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EXHIBIT 11
SCHEDULE OF COMPUTATION OF BASIC EARNINGS/(LOSS) PER SHARE
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FOR YEARS ENDED
June 30, 2000 June 30, 1999
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<S> <C> <C>
Net Loss $ (5,274,043) $ (3,166,488)
Less Preferred stock dividends (93,403)
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Subtotal $ (5,367,446) $ (3,166,488)
Number of common shares outstanding at
beginning of the year 7,410,745 7,410,745
Weighted average number of common shares
issued as follows:
Common stock options exercised 147,186
Private offering of common stock 1,094,795
Common stock warrants exercised 1,460,771
Common stock issued for services 60,286
Conversion of debt to common stock 779,501
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Weighted average number of common shares
outstanding at the end of the year 10,953,284 7,410,745
Net loss per common share (0.49) (0.43)
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