Exhibit 11.0 - Computation of Earnings per Share
The following represents the computation of earnings per share reflecting the
assumption that the granted shares under the option and warrants plan which
would be dilutive will be exercised.
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
Sept 30, Sept 30, Sept 30, Sept 30,
2000 1999 2000 1999
<S> <C> <C> <C> <C>
Net Income (Loss) $ 77,868 $ (941,060) $ 708,219 $ (2,679,866)
Interest Expense relating to convertible debt -- -- -- --
Adjusted Net Income (Loss) for computation $ 77,868 $ (941,060) $ 708,219 $ (2,679,866)
============ ============ ============ ============
Weighted Average Common 12,272,792 11,982,132 12,133,675 11,939,001
Shares outstanding
Common share equivalents relating
to stock options, warrants, and convertible debt 509 -- 12,669 --
Adjusted common and common equivalent
shares for computation 12,273,301 11,982,132 12,146,344 11,939,001
============ ============ ============ ============
Net earnings (loss) per share:
Basic $.01 $(.08) $.06 $(.22)
==== ====== ==== =====
Diluted $.01 $(.08) $.06 $(.22)
==== ====== ==== =====
</TABLE>
The accompanying notes are an integral part of these statements.