Exhibit 11

ALLIN CORPORATION

CALCULATION OF EARNINGS (LOSS) PER COMMON SHARE

(Dollars in thousands, except per share data)

	Year Ended December 31, 2002		Year Ended December 31, 2003		Year Ended December 31, 2004
Income from continuing operations	$	999	$	780	$	284
Income from discontinued operations		10		—		—
Net income		1,009		780		284
Accretion and dividends on preferred stock		684		710		740
Net income (loss) attributable to common shareholders	$	325	$	70	$	(456	)
Earnings (loss) per common share from continuing operations - basic	$	0.05	$	0.01	$	(0.07	)
Earnings per common share from discontinued operations - basic	$	0.00	$	0.00	$	0.00
Earnings (loss) per common share - basic	$	0.05	$	0.01	$	(0.07	)
Earnings (loss) per common share from continuing operations - diluted	$	0.04	$	0.01	$	(0.07	)
Earnings per common share from discontinued operations - diluted	$	0.00	$	0.00	$	0.00
Earnings (loss) per common share - diluted	$	0.04	$	0.01	$	(0.07	)
Weighted average common shares outstanding during the period - basic		6,967,339		6,967,339		6,967,339
Weighted average common shares outstanding during the period		6,967,339		6,967,339		6,967,339
Effect of convertible preferred stock		4,285,714		—		—
Effect of options		—		12,885		—
Weighted average number of shares outstanding during the period - diluted		11,253,053		6,980,224		6,967,339