EXHIBIT 11

COMPUTATION OF PER SHARE EARNINGS

	Quarter Ended March 31,
	2005			2004
Diluted net (loss) income per share:
Net (loss) income to common shareholders	$	(1,555,000	)	$	(1,635,000	)
Average number of shares outstanding	8,310,132			8,673,950
Net effect of dilutive stock options based on treasury stock method	—			—
Total average shares	8,310,132			8,673,950
Diluted net (loss) income per share	$	(0.19	)	$	(0.19	)