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                                   EXHIBIT 11
                             LASERSIGHT INCORPORATED
                        COMPUTATION OF PER SHARE EARNINGS
                  NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996
<CAPTION>
                                                               Three Months Ended                 Nine Months Ended
                                                                  September 30,                     September 30,
                                                              1997            1996                1997          1996
                                                          ----------------------------    -----------------------------
                                                                                                             Restated     
<S>                                                         <C>             <C>                <C>          <C>   
 PRIMARY
   Weighted average shares outstanding                      9,812,000       7,639,000          9,342,000     7,238,000
   Net effect of dilutive stock options and warrants               --              --                 --            --
                                                          ----------------------------    -----------------------------
                                                            9,812,000       7,639,000          9,342,000     7,238,000
                                                          ============================    =============================
   Net loss                                               $(2,408,878)    $(2,053,686)       $(5,499,410)  $(3,310,390)
   
   Conversion discount on preferred stock                     (41,573)             --            (41,573)   (1,010,557)
   Dividends on preferred stock                                    --         (77,674)           (13,350)     (345,694)
                                                          ----------------------------    -----------------------------
   Loss attributable to common stockholders               $(2,450,451)    $(2,131,360)       $(5,554,333)  $(4,666,641)
                                                          ============================    =============================
   Primary loss per share                                      $(0.25)         $(0.28)            $(0.59)       $(0.64)
                                                          ============================    =============================
   Additional Primary Calculation:                                                     
     Loss attributable to common stockholders, above      $(2,450,451)    $(2,131,360)       $(5,554,333)  $(4,666,641)
                                                          ============================    =============================
    
   Additional adjustment to weighted average # of shares:
     Weighted average # of shares as adjusted per above     9,812,000       7,639,000          9,342,000     7,238,000
     Dilutive effect of contingently issuable shares and
       stock options and warrants                             151,000         603,000            161,000       574,000    
                                                          ----------------------------    ----------------------------- 
     Weighted average # of shares, as adjusted              9,963,000       8,242,000          9,503,000     7,812,000
                                                          ============================    =============================
   
     Primary loss per share, as adjusted                       $(0.25)         $(0.26)(A)         $(0.58)       $(0.60)(A)
                                                          ============================    =============================
    
FULLY DILUTED
   Weighted average shares outstanding                      9,812,000       7,639,000          9,342,000     7,238,000
   Net effect of dilutive stock options and warrants               --              --                 --            --
   Effect of converted preferred stock and dividends from
     beginning of period                                           --         378,000             48,000       610,000
                                                          ----------------------------    -----------------------------
                                                            9,812,000       8,017,000          9,390,000     7,848,000
                                                          ============================    =============================
   Net loss                                               $(2,408,878)    $(2,053,686)       $(5,499,410)  $(3,310,390)
   
   Conversion discount on preferred stock                     (41,573)             --            (41,573)   (1,010,557)
   Dividends on preferred stock, net of dividends
     on preferred stock converted during period                    --         (77,674)                --      (345,694)
                                                          ----------------------------    -----------------------------
   Loss attributable to common stockholders               $(2,450,451)    $(2,131,360)       $(5,540,983)  $(4,666,641)
                                                          ============================    =============================
   Fully diluted loss per share                                $(0.25)         $(0.27)            $(0.59)       $(0.59)
                                                          ============================    =============================
   Additional Fully Diluted Calculation:
     Loss attributable to common stockholders, above      $(2,450,451)    $(2,131,360)       $(5,540,983)  $(4,666,641)
                                                          ============================    =============================
    
   Additional adjustment to weighted average # of
     shares:
   Weighted average # of shares as adjusted per above       9,812,000       8,017,000          9,390,000     7,848,000
   Dilutive effect of contingently issuable shares, stock
     options and warrants and convertible preferred stock     867,000         766,000            403,000       730,000
                                                          ----------------------------    -----------------------------
   Weighted average # of shares, as adjusted               10,679,000       8,783,000          9,793,000     8,578,000
                                                          ============================    =============================
   
     Fully diluted loss per share, as adjusted                 $(0.23)         $(0.24)(A)         $(0.57)       $(0.54)(A)
                                                          ============================    =============================
    
 (A)   - This  calculation is submitted in accordance with Regulation S-K item
         601(b)(11)  although it is contrary to  paragraph 40 of APB Opinion No.
         15 because it produces an anti-dilutive result.
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