EXHIBIT 11

The following table sets forth the computation of basic and diluted
earnings per share:

|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|------------------------------------------------------------------------------------------------------------------------------------------ |  | --------------------------- | ---------- | ------------------------- |  | ---- | ---------- | ---- |  |  | ---------- | - |  |  | ---------- | -
|                                                                                                                                           |  | Three months ended June 30, |            | Six months ended June 30,
|                                                                                                                                           |  | 2001                        |            | 2000                      |  | 2001 |            | 2000
|                                                                                                                                           |  |                             |            |                           |  |      |            |     
|Numerator:                                                                                                                                
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|Net (loss)                                                                                                                                 |  |                             | (1,565,755 | )                         |  |      | (1,475,164 | )    |  |  | (2,990,756 | ) |  |  | (3,238,644 | )
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|Dividends on Series A preferred stock                                                                                                      |  |                             | (772       | )                         |  |      | (5,703     | )    |  |  | (1,535     | ) |  |  | (11,406    | )
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|Dividends on Series B preferred stock                                                                                                      |  |                             | (51,608    | )                         |  |      | (52,213    | )    |  |  | (103,389   | ) |  |  | (104,426   | )
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|                                                                                                                                          
|Numerator for basic and diluted earnings (loss) per
share-income (loss) available to common shareholders                                   |  |                             | (1,618,135 | )                         |  |      | (1,533,080 | )    |  |  | (3,095,680 | ) |  |  | (3,354,476 | )
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|                                                                                                                                          
|Denominator:                                                                                                                              
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|                                                                                                                                          
|Denominator for basic earnings (loss) per share-
weighted average shares outstanding                                                       |  |                             | 9,195,435  |                           |  |      | 7,339,177  |      |  |  | 9,093,531  |   |  |  | 7,114,522  |  
|                                                                                                                                          
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|Effect of dilutive securities
Warrants                                                                                                     |  |                             |           |                           |  |      |           |      |  |  |           |   |  |  |           |  
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|                                                                                                                                          
|Dilutive potential common shares denominator
for diluted earnings (loss) per share adjusted
weighted-average shares and assumed conversion |  |                             | 9,195,435  |                           |  |      | 7,339,177  |      |  |  | 9,093,531  |   |  |  | 7,114,522  |  
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|                                                                                                                                          
|Basic earnings (loss) per share                                                                                                            |  |                             | (0.18      | )                         |  |      | (0.21      | )    |  |  | (0.34      | ) |  |  | (0.47      | )
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |  
|                                                                                                                                          
|Diluted earnings (loss) per share                                                                                                          |  |                             | (0.18      | )                         |  |      | (0.21      | )    |  |  | (0.34      | ) |  |  | (0.47      | )
|                                                                                                                                           |  |                             |            |                           |  |      |            |      |  |  |            |   |  |  |            |