Exhibit 11

ALLIN CORPORATION

CALCULATION OF NET INCOME PER COMMON SHARE

(Dollars in thousands, except per share data)

	Three Months Ended June 30, 2003		Three Months Ended June 30, 2004			Six Months Ended June 30, 2003		Six Months Ended June 30, 2004
Net income (loss)	$	454	$	(138	)	$	700	$	43
Accretion and dividends on preferred stock		176		183			349		364
Net income (loss) attributable to common shareholders	$	278	$	(321	)	$	351	$	(321	)
Earnings (loss) per common share - basic	$	0.04	$	(0.05	)	$	0.05	$	(0.05	)
Earnings (loss) per common share - diluted	$	0.03	$	(0.05	)	$	0.04	$	(0.05	)
Weighted average shares outstanding during the period - basic		6,967,339		6,967,339			6,967,339		6,967,339
Weighted average shares outstanding during the period		6,967,339		6,967,339			6,967,339		6,967,339
Effect of convertible preferred stock		4,285,714		—			4,285,714		—
Effect of options		9,110		—			4,906		—
Weighted average number of shares outstanding during the period - diluted		11,262,163		6,967,339			11,257,959		6,967,339