EXHIBIT 11





CROWN FINANCIAL GROUP, INC.

(formerly M. H. MEYERSON & CO., INC.)

STATEMENT OF EARNINGS PER SHARE



YEAR ENDED JANUARY 31, 2002



Shares outstanding during the year ended January 31, 2002:



|                                                  |  |          |  |              
|------------------------------------------------- |  | -------- |  | -------------
|6,625,715 shares from February 1 to February 12   |  | 12 days  |  | 79,508,580   
|6,627,123 shares from February 13 to February 19  |  | 7 days   |  | 46,389,861   
|6,629,097 shares from February 20 to March 5      |  | 14 days  |  | 92,807,358   
|6,631,226 shares from March 6 to March 8          |  | 3 days   |  | 19,893,678   
|6,632,547 shares from March 9 to March 11         |  | 3 days   |  | 19,897,641   
|6,633,785 shares from March 12 to March 20        |  | 9 days   |  | 59,704,065   
|6,635,514 shares from March 21 to June 14         |  | 86 days  |  | 570,654,204  
|6,606,514 shares from June 15 to January 31, 2002 |  | 231 days |  | 1,526,104,734
|                                                  |  | 365 days |  | 2,414,960,121



2,414,960,121 shares divided by 365
days =6,616,329 weighted average shares outstanding. Loss for the year ended January 31, 2002 = $14,818,289. Basic loss per share = $2.24



YEAR ENDED JANUARY 31, 2003



Shares outstanding during the year ended January 31, 2003:



|                                                  |  |          |  |              
|------------------------------------------------- |  | -------- |  | -------------
|6,606,514 shares from February 1 to April 28      |  | 87 days  |  | 574,766,718  
|6,606,964 shares from April 29 to January 9, 2003 |  | 256 days |  | 1,691,382,784
|7,356,964 shares from January 10 to January 14    |  | 5 days   |  | 36,784,820   
|7,556,964 shares from January 15 to January 31    |  | 17 days  |  | 128,468,388  
|                                                  |  | 365 days |  | 2,431,402,710



2,430,402,710 shares divided by 365
days = 6,661,377 weighted average shares outstanding. Loss for the year ended January 31, 2003$7,555,655. Basic loss per share = $1.13.



YEAR ENDED JANUARY 31, 2004



Shares outstanding during the year ended January 31, 2004:



|          |  |                                        |  |         |  |            
|--------- |  | -------------------------------------- |  | ------- |  | -----------
|7,556,964 |  | shares from February 1 to February 17  |  | 17 days |  | 128,468,388
|7,668,075 |  | shares from February 18 to February 18 |  | 1 day   |  | 7,668,075  
|7,806,963 |  | shares from February 19 to February 19 |  | 1 day   |  | 7,806,963  
|7,810,487 |  | shares from February 20 to February 20 |  | 1 day   |  | 7,810,487  
|7,938,264 |  | shares from February 21 to February 23 |  | 3 days  |  | 23,814,792 
|7,938,912 |  | shares from February 24 to February 25 |  | 2 days  |  | 15,877,824 
|7,939,021 |  | shares from February 26 to February 28 |  | 3 days  |  | 23,817,063 
|7,939,390 |  | shares from March 1 to March 2         |  | 2 days  |  | 15,878,780 
|8,145,165 |  | shares from March 3 to March 3         |  | 1 day   |  | 8,145,165  
|8,146,076 |  | shares from March 4 to March 4         |  | 1 day   |  | 8,146,076  
|8,146,447 |  | shares from March 5 to March 16        |  | 12 days |  | 97,757,364 
|8,150,211 |  | shares from March 17 to March 30       |  | 14 days |  | 114,102,954
|8,450,830 |  | shares from March 31 to March 31       |  | 1 day   |  | 8,450,830  
|8,568,108 |  | shares from April 1 to April 1         |  | 1 day   |  | 8,568,108  
|8,579,597 |  | shares from April 2 to April 2         |  | 1 day   |  | 8,579,597  
|8,732,930 |  | shares from April 3 to April 3         |  | 1 day   |  | 8,732,930  
|8,782,930 |  | shares from April 4 to April 6         |  | 3 days  |  | 26,348,790 
|8,792,930 |  | shares from April 7 to April 8         |  | 2 days  |  | 17,585,860 



---

|           |  |                                          |  |         |  |            
|---------- |  | ---------------------------------------- |  | ------- |  | -----------
|8,796,170  |  | shares from April 9 to April 23          |  | 15 days |  | 131,942,550
|8,801,382  |  | shares from April 24 to April 27         |  | 4 days  |  | 35,205,528 
|8,805,250  |  | shares from April 28 to April 30         |  | 3 days  |  | 26,415,750 
|8,805,250  |  | shares from May 1 to May 7               |  | 7 days  |  | 61,636,750 
|8,807,753  |  | shares from May 8 to May 8               |  | 1 day   |  | 8,807,753  
|8,808,243  |  | shares from May 9 to May 13              |  | 5 days  |  | 44,041,215 
|8,809,368  |  | shares from May 14 to May 15             |  | 2 days  |  | 17,618,736 
|9,191,034  |  | shares from May 16 to May 20             |  | 5 days  |  | 45,955,170 
|9,257,700  |  | shares from May 21 to May 21             |  | 1 day   |  | 9,257,700  
|9,524,366  |  | shares from May 22 to May 22             |  | 1 day   |  | 9,524,366  
|9,534,366  |  | shares from May 23 to May 26             |  | 4 days  |  | 38,137,464 
|9,675,353  |  | shares from May 27 to May 27             |  | 1 day   |  | 9,675,353  
|9,675,670  |  | shares from May 28 to May 28             |  | 1 day   |  | 9,675,670  
|9,692,973  |  | shares from May 29 to May 29             |  | 1 day   |  | 9,692,973  
|9,693,574  |  | shares from May 30 to June 1             |  | 3 days  |  | 29,080,722 
|9,694,608  |  | shares from June 2 to June 5             |  | 4 days  |  | 38,778,432 
|9,700,798  |  | shares from June 6 to June 9             |  | 4 days  |  | 38,803,192 
|9,744,538  |  | shares from June 10 to June 10           |  | 1 day   |  | 9,744,538  
|9,844,538  |  | shares from June 11 to June 15           |  | 5 days  |  | 49,222,690 
|9,867,038  |  | shares from June 16 to June 19           |  | 4 days  |  | 39,468,152 
|9,867,777  |  | shares from June 20 to June 22           |  | 3 days  |  | 29,603,331 
|9,867,822  |  | shares from June 23 to June 23           |  | 1 day   |  | 9,867,822  
|9,868,118  |  | shares from June 24 to June 24           |  | 1 day   |  | 9,868,118  
|9,890,618  |  | shares from June 25 to June 29           |  | 5 days  |  | 49,453,090 
|9,890,984  |  | shares from June 30 to July 2            |  | 3 days  |  | 29,672,952 
|9,892,918  |  | shares from July 3 to July 7             |  | 5 days  |  | 49,464,590 
|9,893,775  |  | shares from July 8 to July 8             |  | 1 day   |  | 9,893,775  
|9,894,997  |  | shares from July 9 to July 9             |  | 1 day   |  | 9,894,997  
|9,895,595  |  | shares from July 10 to July 13           |  | 4 days  |  | 39,582,380 
|9,899,194  |  | shares from July 14 to July 14           |  | 1 day   |  | 9,899,194  
|9,900,694  |  | shares from July 15 to July 16           |  | 2 days  |  | 19,801,388 
|9,901,606  |  | shares from July 17 to July 22           |  | 6 days  |  | 59,409,636 
|9,902,277  |  | shares from July 23 to July 31           |  | 9 days  |  | 89,120,493 
|9,908,546  |  | shares from August 1 to August 3         |  | 3 days  |  | 29,725,638 
|9,915,904  |  | shares from August 4 to August 4         |  | 1 day   |  | 9,915,904  
|9,916,220  |  | shares from August 5 to August 5         |  | 1 day   |  | 9,916,220  
|9,918,898  |  | shares from August 6 to August 6         |  | 1 day   |  | 9,918,898  
|9,920,897  |  | shares from August 7 to August 18        |  | 12 days |  | 119,050,764
|9,921,666  |  | shares from August 19 to August 19       |  | 1 day   |  | 9,921,666  
|9,921,957  |  | shares from August 20 to August 24       |  | 5 days  |  | 49,609,785 
|9,922,868  |  | shares from August 25 to August 27       |  | 3 days  |  | 29,768,604 
|9,923,246  |  | shares from August 28 to September 1     |  | 5 days  |  | 49,616,230 
|9,923,661  |  | shares from September 2 to September 2   |  | 1 day   |  | 9,923,661  
|9,924,144  |  | shares from September 3 to September 5   |  | 3 days  |  | 29,772,432 
|9,924,307  |  | shares from September 6 to September 15  |  | 10 days |  | 99,243,070 
|9,927,235  |  | shares from September 16 to September 16 |  | 1 day   |  | 9,927,235  
|9,927,565  |  | shares from September 17 to September 21 |  | 5 days  |  | 49,637,825 
|9,928,585  |  | shares from September 22 to September 25 |  | 4 days  |  | 39,714,340 
|9,930,769  |  | shares from September 26 to September 28 |  | 3 days  |  | 29,792,307 
|9,934,169  |  | shares from September 29 to September 29 |  | 1 day   |  | 9,934,169  
|9,934,362  |  | shares from September 30 to October 9    |  | 10 days |  | 99,343,620 
|10,025,687 |  | shares from October 10 to October 15     |  | 6 days  |  | 60,154,122 
|10,026,102 |  | shares from October 16 to October 19     |  | 4 days  |  | 40,104,408 
|10,055,088 |  | shares from October 20 to October 23     |  | 4 days  |  | 40,220,352 



---

|           |  |                                        |  |          |  |              
|---------- |  | -------------------------------------- |  | -------- |  | -------------
|10,056,625 |  | shares from October 24 to October 29   |  | 6 days   |  | 60,339,750   
|10,423,463 |  | shares from October 30 to October 31   |  | 2 days   |  | 20,846,926   
|10,423,463 |  | shares from November 1 to November 16  |  | 16 days  |  | 166,775,408  
|10,530,759 |  | shares from November 17 to November 20 |  | 4 days   |  | 42,123,036   
|10,821,809 |  | shares from November 21 to November 30 |  | 10 days  |  | 108,218,090  
|10,893,238 |  | shares from December 1 to December 9   |  | 9 days   |  | 98,039,142   
|10,993,238 |  | shares from December 10 to December 11 |  | 2 days   |  | 21,986,476   
|11,300,381 |  | shares from December 12 to January 6   |  | 26 days  |  | 293,809,906  
|11,312,881 |  | shares from January 7 to January 20    |  | 14 days  |  | 158,380,334  
|11,398,595 |  | shares from January 21 to January 28   |  | 8 days   |  | 91,188,760   
|11,425,333 |  | shares from January 29 to January 31   |  | 3 days   |  | 34,275,999   
|           |  |                                        |  |          |  |              
|           |  |                                        |  | 365 days |  | 3,546,971,593



3,546,971,593 shares divided by 365
days = 9,717,730 weighted average shares outstanding. Loss for the year ended January 31, 2004$5,180,386. Basic loss per share = $0.53.