Exhibit (11) - Statement Re: Computation of Earnings Per Share and
Pro Forma Earnings Per Share (2000)
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<CAPTION> Three Months Ended
June 30,
2000 1999
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<S> <C> <C>
Average number of shares outstanding 12,494,402 8,989,930
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Net loss $ (1,411,000) $ (3,216,000)
Less: cumulative dividend on
redeemable preferred stock $ 0 $ (168,000)
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Loss applicable to common shares $ (1,411,000) $ (3,384,000)
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Net loss per share $ (0.11) $ (0.38)
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