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EXHIBIT 11.4
PAGEMART WIRELESS, INC.
COMPUTATION OF PER SHARE EARNINGS (LOSS)
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NINE MONTHS ENDED SEPTEMBER 30, 1999
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NUMBER PERCENT EQUIVALENT
OF SHARES OUTSTANDING SHARES
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<S> <C> <C> <C>
COMMON STOCK
From Founders' Stock 2,300,000 100.00% 2,300,000
Stock Options Exercised 1,167,063 92.47% 1,079,210
Preferred Stock Converted to Common Stock 15,310,943 100.00% 15,310,943
1994 Common Stock Offerings 11,242,857 100.00% 11,242,857
1995 Common Stock Offerings 4,323,874 100.00% 4,323,874
1996 Common Stock Offering 6,000,000 100.00% 6,000,000
Employee Stock Purchase Plan Shares Issued 127,399 90.37% 115,135
Warrants Exercised 130,513 48.10% 62,775
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40,602,649 40,434,794
WEIGHTED AVERAGE SHARES OUTSTANDING 40,434,794
NET LOSS $(74,794,192)
NET LOSS PER SHARE $ (1.85)
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