Exhibit 11



ALLIN CORPORATION



CALCULATION OF (LOSS) EARNINGS PER COMMON SHARE



(Dollars in thousands, except per share data)



|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|------------------------------------------------------------------------- |  | ---------------------------------- | --------- | - | ---------------------------------- | - | --------- | --------------------------------- |  | --------------------------------- | ---------- |  | - | --------- | -
|                                                                          |  | Three MonthsEndedSeptember 30,2003 |           |   | Three MonthsEndedSeptember 30,2004 |   |           | Nine MonthsEndedSeptember 30,2003 |  | Nine MonthsEndedSeptember 30,2004 |           
|Net income (loss)                                                         |  | $                                  | 166       |   |                                    | $ | (356      | )                                 |  | $                                 | 866        |  | $ | (313      | )
|                                                                          |  |                                    |           |  
|Accretion and dividends on preferred stock                                |  |                                    | 179       |   |                                    |   | 187       |                                   |  |                                   | 528        |  |   | 551       |  
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|Net (loss) income attributable to common shareholders                     |  | $                                  | (13       | ) |                                    | $ | (543      | )                                 |  | $                                 | 338        |  | $ | (864      | )
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|(Loss) earnings per common share - basic                                  |  | $                                  | 0.00      |   |                                    | $ | (0.08     | )                                 |  | $                                 | 0.05       |  | $ | (0.12     | )
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|(Loss) earnings per common share - diluted                                |  | $                                  | 0.00      |   |                                    | $ | (0.08     | )                                 |  | $                                 | 0.04       |  | $ | (0.12     | )
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|Weighted average shares outstanding during the period - basic             |  |                                    | 6,967,339 |   |                                    |   | 6,967,339 |                                   |  |                                   | 6,967,339  |  |   | 6,967,339 |  
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|Weighted average shares outstanding during the period                     |  |                                    | 6,967,339 |   |                                    |   | 6,967,339 |                                   |  |                                   | 6,967,339  |  |   | 6,967,339 |  
|Effect of convertible preferred stock                                     |  |                                    |          |   |                                    |   |          |                                   |  |                                   | 4,285,714  |  |   |          |  
|Effect of options                                                         |  |                                    |          |   |                                    |   |          |                                   |  |                                   | 7,054      |  |   |          |  
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |  
|Weighted average number of shares outstanding during the period - diluted |  |                                    | 6,967,339 |   |                                    |   | 6,967,339 |                                   |  |                                   | 11,260,107 |  |   | 6,967,339 |  
|                                                                          |  |                                    |           |   |                                    |   |           |                                   |  |                                   |            |  |   |           |