nStor Technologies, Inc.Exhibit 11Statement Regarding Computation of Per Share EarningsFor the Years Ended December 31, 2003, 2002 and 2001

Weighted Average Common Shares Considered Outstanding:
|                                                                                                                                           |             |               |  |  |  | Outstanding Common Shares |     |  | Weighted Average Shares |
|-------------------------------------------------------------------------------------------------------------------------------------------|-------------|---------------|--|--|--|---------------------------|-----|--|-------------------------|
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |
|                                                                                                                                           | 2003 Period |               |  |  |  |                           |     |  |                         |  |  |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |  |  |
| January 1, 2003 – March 27, 2003                                                                                                    |             |               |  |  |  | 142,076,947               |     |  |                         | 33,475,664 |
| March 28, 2003 – May 31, 2003                                                                                                       |             |               |  |  |  | 153,091,995               |     |  |                         | 27,262,958 |
| June 1, 2003 – June 12, 2003                                                                                                        |             |               |  |  |  | 153,391,995               |     |  |                         | 5,043,024 |
| June 13,2003 – July 30, 2003                                                                                                        |             |               |  |  |  | 164,058,662               |     |  |                         | 21,574,838 |
| July 31, 2003 – September 10, 2003                                                                                                  |             |               |  |  |  | 164,188,793               | (a) |  |                         | 18,883,551 |
| September 11, 2003 – September 11, 2003                                                                                             |             |               |  |  |  | 164,912,106               |     |  |                         | 451,814 |
| September 12, 2003 – December 31, 2003                                                                                              |             |               |  |  |  | 165,067,838               | (a) |  |                         | 50,194,105 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         | 156,885,954 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |
| (a) The number of outstanding shares changed on several dates during the period; however, for simplicity, each change date is not listed. |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Net loss                                                                                                                                  |             | ($5,988,000)  |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Basic and diluted net loss per common share                                                                                               |             | ($.04)        |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           | 2002 Period |               |  |  |  |                           |     |  |                         |  |  |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |  |  |
| January 1, 2002 – January 22, 2002                                                                                                  |             |               |  |  |  | 114,603,144               |     |  |                         | 6,907,587 |
| January 23, 2002 – June 6, 2002                                                                                                     |             |               |  |  |  | 115,049,920               |     |  |                         | 42,552,710 |
| June 7, 2002 – October 7, 2002                                                                                                      |             |               |  |  |  | 137,549,920               |     |  |                         | 46,352,439 |
| October 8, 2002 – December 31, 2002                                                                                                 |             |               |  |  |  | 142,076,947               |     |  |                         | 33,086,412 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         | 128,899,148 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Net loss                                                                                                                                  |             | ($7,984,000)  |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Basic and diluted net loss per common share                                                                                               |             | ($.06)        |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           | 2001 Period |               |  |  |  |                           |     |  |                         |  |  |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |  |  |
| January 1, 2001 – May 16, 2001                                                                                                      |             |               |  |  |  | 35,478,489                |     |  |                         | 13,219,383 |
| May 17, 2001 – October 27, 2001                                                                                                     |             |               |  |  |  | 35,719,022                |     |  |                         | 16,049,094 |
| October 28, 2001 – November 19, 2001                                                                                                |             |               |  |  |  | 37,719,022                |     |  |                         | 2,376,815 |
| November 20, 2001 – December 31, 2001                                                                                               |             |               |  |  |  | 114,603,144               |     |  |                         | 13,,187,211 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         | 44,832,503 |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Net loss                                                                                                                                  |             | ($18,518,000) |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
|                                                                                                                                           |             |               |  |  |  |                           |     |  |                         |  |
| Basic and diluted net loss per common share                                                                                               |             | ($.41)        |  |  |  |                           |     |  |                         |  |
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