EXHIBIT 11.1

COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE

	Quarter Ended June 30,					Six Months Ended June 30,
	2006			2005		2006			2005
Diluted net income (loss) per share:
Net income (loss) to common shareholders	$	(1,612,000	)	$	92,000	$	(2,791,000	)	$	(1,463,000	)
Average number of shares outstanding	7,957,428			7,957,428		7,957,428			8,133,780
Net effect of dilutive stock options based on treasury stock method	—			4,487		—			—
Total average shares	7,957,428			7,961,915		7,957,428			8,133,780
Diluted net income (loss) per share	$	(0.20	)	$	0.01	$	(0.35	)	$	(0.18	)

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