Exhibit 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Year ended Year ended
March 31, March 31,
1996 1995
PRIMARY
Average shares outstanding 7,734,082 7,325,970
Net effect of dilutive stock
options and warrants--based on
the treasury stock method using
average market price N/A N/A
TOTAL 7,734,082 7,325,970
Net income (loss) $ (92,474) $ (468,681)
Per share amount $ (.01) $ (.06)
FULLY DILUTED
Average shares outstanding 7,734,082 7,325,970
Net effect of dilutive stock
options and warrants--based on
the treasury stock method using
the year-end market price, if
higher than the average market
price N/A N/A
TOTAL 7,734,082 7,325,970
Net income (loss) $ (92,474) $ (468,681)
Per share amount $ (.01) $ (.06)
Shares issuable upon exercise of stock options and warrants were
not considered in the computations in 1996 and 1995 since the