EX-11.1 4 a2030390zex-11_1.txt EXHIBIT 11.1 EXHIBIT 11.1 STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS The following schedules reflect the information used in calculating the number of shares in the computation of net loss per share for each of the periods set forth in the Statements of Operations. 34 BASIC AND DILUTED EARNINGS PER SHARE COMPUTATION THREE MONTHS ENDED SEPTEMBER 30, 2000 Weighted Average Shares Outstanding:
TOTAL # DAYS SHARES OUTSTANDING 7,034,921 x 6 = 42,209,526 7,042,398 x 17 = 119,720,766 7,054,860 x 46 = 324,523,560 9,054,860 x 23 = 208,261,780 -- ----------- 92 = 694,715,632 == =========== 694,715,632 / 92 = 7,551,257 ========= Loss Per Share: Net Loss plus dividend accrual plus accretion of offering costs $(2,126,768) = $ (0.28) --------------------------------- ------------ ========= Weighted Avg. Shares 7,551,257
35 BASIC AND DILUTED EARNINGS PER SHARE COMPUTATION THREE MONTHS ENDED SEPTEMBER 30, 1999 Weighted Average Shares Outstanding:
TOTAL # DAYS SHARES OUTSTANDING 6,569,557 x 92 = 604,399,244 -- ----------- 92 604,399,244 == =========== 604,399,244 /92 = 6,569,557 Loss Per Share: Net Loss plus dividend accrual plus accretion of offering costs $(1,650,295) = $ (0.25) --------------------------------- ------------ ========= Weighted Avg. Shares 6,569,557
36 BASIC AND DILUTED EARNINGS PER SHARE COMPUTATION NINE MONTHS ENDED SEPTEMBER 30, 2000 Weighted Average Shares Outstanding:
TOTAL # DAYS SHARES OUTSTANDING 6,572,135 x 3 = 19,716,405 6,574,135 x 7 = 46,018,945 6,576,135 x 15 = 98,642,025 6,578,135 x 14 = 92,093,890 6,591,135 x 1 = 6,591,135 6,596,135 x 6 = 39,576,810 6,624,189 x 8 = 52,993,512 6,629,189 x 1 = 6,629,189 6,691,762 x 6 = 40,150,572 6,706,762 x 1 = 6,706,762 6,723,424 x 3 = 20,170,272 6,734,224 x 14 = 94,279,136 6,734,917 x 4 = 26,939,668 6,772,512 x 6 = 40,635,072 7,016,029 x 7 = 49,112,203 7,018,059 x 4 = 28,072,236 7,020,039 x 17 = 119,340,663 7,020,342 x 5 = 35,101,710 7,021,002 x 20 = 140,420,040 7,034,921 x 46 = 323,606,366 7,042,398 x 17 = 119,720,766 7,054,860 x 46 = 324,523,560 9,054,860 x 23 = 208,261,780 --- ------------- 274 = 1,939,302,717 === ============= 1,939,302,717 / 274 = 7,077,747 ========== Loss Per Share: Net Loss plus dividend accrual plus accretion of offering costs $(5,856,545) = $ (0.83) --------------------------------- ------------- ========== Weighted Avg. Shares 7,077,747
37 BASIC AND DILUTED EARNINGS PER SHARE COMPUTATION NINE MONTHS ENDED SEPTEMBER 30, 1999 Weighted Average Shares Outstanding:
TOTAL # DAYS SHARES OUTSTANDING 2,179,124 x 19 = 41,403,356 2,179,713 x 30 = 65,391,390 2,180,358 x 74 = 161,346,492 2,182,328 x 3 = 6,546,984 2,315,330 x 13 = 30,099,290 2,328,334 x 7 = 16,298,338 2,354,737 x 15 = 35,321,055 6,150,068 x 11 = 67,650,748 6,569,557 x 101 = 663,525,257 --- ------------- 273 1,087,582,910 === ============= 1,087,582,910 /273 = 3,983,820 ========== Loss Per Share: Net Loss plus dividend accrual plus accretion of offering costs $ (5,922,616) = $ (1.49) --------------------------------- ------------- ========== Weighted Avg. Shares 3,983,820
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