Exhibit 11



ALLIN CORPORATION



CALCULATION OF NET INCOME PER COMMON SHARE



(Dollars in thousands, except per share data)



|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|------------------------------------------------------------------------- |  | ------------------------------- | ---------- | ------------------------------- | - | --------- | ----------------------------- |  | ---------------------------- | ---------- |  | - | --------- | -
|                                                                          |  | Three MonthsEnded June 30, 2003 |            | Three MonthsEnded June 30, 2004 |   |           | Six MonthsEnded June 30, 2003 |  | Six MonthsEnded June 30,2004 |           
|Net income (loss)                                                         |  | $                               | 454        |                                 | $ | (138      | )                             |  | $                            | 700        |  | $ | 43        |  
|                                                                          |  |                                 |            |                                
|Accretion and dividends on preferred stock                                |  |                                 | 176        |                                 |   | 183       |                               |  |                              | 349        |  |   | 364       |  
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|Net income (loss) attributable to common shareholders                     |  | $                               | 278        |                                 | $ | (321      | )                             |  | $                            | 351        |  | $ | (321      | )
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|Earnings (loss) per common share - basic                                  |  | $                               | 0.04       |                                 | $ | (0.05     | )                             |  | $                            | 0.05       |  | $ | (0.05     | )
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|Earnings (loss) per common share - diluted                                |  | $                               | 0.03       |                                 | $ | (0.05     | )                             |  | $                            | 0.04       |  | $ | (0.05     | )
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|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  |                                 |   |          |                               |  |                              | 4,285,714  |  |   |          |  
|Effect of options                                                         |  |                                 | 9,110      |                                 |   |          |                               |  |                              | 4,906      |  |   |          |  
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |  
|Weighted average number of shares outstanding during the period - diluted |  |                                 | 11,262,163 |                                 |   | 6,967,339 |                               |  |                              | 11,257,959 |  |   | 6,967,339 |  
|                                                                          |  |                                 |            |                                 |   |           |                               |  |                              |            |  |   |           |