ATOMIC BURRITO, INC.
COMPUTATION OF EARNINGS PER SHARE
(UNAUDITED)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
March 31 June 30,
2000 1999 2000 1999
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
BASIC EARNINGS PER SHARE:
Net income $(256,253) $ (27,987) $(391,583) $ 133,810
Dividends on preferred stock - - - (3,204)
--------- ---------- --------- ----------
Net income applicable to
common stock $(256,253) $ (27,987) $(391,583) $ 130,606
========= ========== ========= ==========
Shares used in computing basic
earnings per share 4,364,214 3,735,270 4,310,499 3,734,721
========= ========== ========= ==========
Basic earnings per common share $ (.06) $ (0.007) $ (.09) $ 0.35
========= ========== ========= ==========
DILUTED EARNINGS PER SHARE:
Net income N/A N/A N/A N/A
========= ========== ========= =========
Shares used in computing basic
earnings per share * * * 3,734,997
Effect of shares issuable under
conversion of preferred stock * * * 44,685
Effect of shares issuable under
common stock warrants under
treasury stock method * * * 204,221
Effect of shares issuable under
common stock options using
treasury stock method * * * 137,324
--------- ---------- --------- ----------
Shares used in computing diluted
earnings per share * * * 4,121,227
--------- ---------- -------- ==========
Diluted earnings per common
share $ N/A $ N/A $ N/A $ 0.032
========= ========== ======== ==========
</TABLE>
* Anti-dilutive
