EX-11 3 exhit11.txt STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS For The Nine Months Ended April 30 2002 2001 ----------- ----------- Shares outstanding 7,939,899 6,630,091 ---------- ---------- Weighted average shares outstanding 7,452,337 6,298,590 Stock Options 2,779,766 1,412,675 Warrants -- 1,797,500 ---------- ---------- Total weighted average shares outstanding 10,232,103 9,508,765 ========== ========== Net income (loss) $ (1,393,866) $(1,484,416) ========== ========== Basic Net Earnings (Loss) per share $ (0.19) $ (0.24) ========== ========== Diluted Net Earnings (Loss) per share $ (0.19) $ (0.24) ========== ==========