**Exhibit 11**

** **
| **Hispanic Television  Network, Inc.**              |
|-----------------------------------------------------|
| **Computation of Per  Share Loss**                  |
| **Three and nine  months ended September 30, 2001** |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   | 9/30/2001 |   |   |   |   |   |   | 9/30/2001 |   |   |
|                                                | **No. of Shares** | **Days** | **Percentage** | **Weighted** |   |   | **No. of Shares** | **Days** | **Percentage** | **Weighted** |
|                                                | **Issued** | **Outstanding** | **Outstanding** | **of Time** | **Average** |   |   | **Issued** | **Outstanding** | **Outstanding** | **of Time** | **Average** |
|                                                |   |   |   |   |   |   |   |   |   |   | ** ** |   |   |
| Shares Outstanding 12/31/00                         | 90,822,587 | 11 | 4.0% | 3,659,518 |   | Shares Outstanding 6/30/01 | 124,638,667 | 9 | 9.8% | 12,192,913 |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shares Issued:                                      |   |   |   |   |   | Shares Issued: |   |   |   |   |   |
| 1/11/2001                                           | 1,000,000 | 91,822,587 | 5 | 1.8% | 1,681,732 |   | 1/11/2001 |   |   |   | 0.0% | 0 |   |
| 1/16/2001                                           | 2,559,000 | 94,381,587 | 6 | 2.2% | 2,074,321 |   | 1/16/2001 |   |   |   | 0.0% | 0 |   |
| 1/22/2001                                           | 40,777 | 94,422,364 | 2 | 0.7% | 691,739 |   | 1/22/2001 |   |   |   | 0.0% | 0 |   |
| 1/24/2001                                           | 1,004,000 | 95,426,364 | 12 | 4.4% | 4,194,565 |   | 1/24/2001 |   |   |   | 0.0% | 0 |   |
| 2/5/2001                                            | 54,522 | 95,480,886 | 4 | 1.5% | 1,398,987 |   | 2/5/2001 |   |   |   | 0.0% | 0 |   |
| 2/9/2001                                            | 1,000,000 | 96,480,886 | 19 | 7.0% | 6,714,787 |   | 2/9/2001 |   |   |   | 0.0% | 0 |   |
| 2/28/2001                                           | 6,000,000 | 102,480,886 | 5 | 1.8% | 1,876,939 |   | 2/28/2001 |   |   |   | 0.0% | 0 |   |
| 3/5/2001                                            | 4,807,500 | 107,288,386 | 10 | 3.7% | 3,929,978 |   | 3/5/2001 |   |   |   | 0.0% | 0 |   |
| 3/15/2001                                           | 65,303 | 107,353,689 | 17 | 6.2% | 6,685,028 |   | 3/15/2001 |   |   |   | 0.0% | 0 |   |
| 4/1/2001                                            | 7,500 | 107,361,189 | 16 | 5.9% | 6,292,231 |   | 4/1/2001 |   |   |   | 0.0% | 0 |   |
| 4/17/2001                                           | 132,621 | 107,493,810 | 10 | 3.7% | 3,937,502 |   | 4/17/2001 |   |   |   | 0.0% | 0 |   |
| 4/27/2001                                           | 430,000 | 107,923,810 | 3 | 1.1% | 1,185,976 |   | 4/27/2001 |   |   |   | 0.0% | 0 |   |
| 4/30/2001                                           | 550,000 | 108,473,810 | 1 | 0.4% | 397,340 |   | 4/30/2001 |   |   |   | 0.0% | 0 |   |
| 5/1/2001                                            | 400,000 | 108,873,810 | 1 | 0.4% | 398,805 |   | 5/1/2001 |   |   |   | 0.0% | 0 |   |
| 5/2/2001                                            | 400,000 | 109,273,810 | 6 | 2.2% | 2,401,622 |   | 5/2/2001 |   |   |   | 0.0% | 0 |   |
| 5/8/2001                                            | 690,000 | 109,963,810 | 7 | 2.6% | 2,819,585 |   | 5/8/2001 |   |   |   | 0.0% | 0 |   |
| 5/15/2001                                           | 300,000 | 110,263,810 | 1 | 0.4% | 403,897 |   | 5/15/2001 |   |   |   | 0.0% | 0 |   |
| 5/16/2001                                           | 8,066,667 | 118,330,477 | 7 | 2.6% | 3,034,115 |   | 5/16/2001 |   |   |   | 0.0% | 0 |   |
| 5/23/2001                                           | 196,315 | 118,526,792 | 9 | 3.3% | 3,907,477 |   | 5/23/2001 |   |   |   | 0.0% | 0 |   |
| 6/1/2001                                            | 200,000 | 118,726,792 | 6 | 2.2% | 2,609,380 |   | 6/1/2001 |   |   |   | 0.0% | 0 |   |
| 6/7/2001                                            | 1,450,000 | 120,176,792 | 4 | 1.5% | 1,760,832 |   | 6/7/2001 |   |   |   | 0.0% | 0 |   |
| 6/11/2001                                           | 8,179 | 120,184,971 | 1 | 0.4% | 440,238 |   | 6/11/2001 |   |   |   | 0.0% | 0 |   |
| 6/12/2001                                           | 800,000 | 120,984,971 | 6 | 2.2% | 2,659,010 |   | 6/12/2001 |   |   |   | 0.0% | 0 |   |
| 6/18/2001                                           | 1,078,000 | 122,062,971 | 4 | 1.5% | 1,788,468 |   | 6/18/2001 |   |   |   | 0.0% | 0 |   |
| 6/22/2001                                           | 996,000 | 123,058,971 | 4 | 1.5% | 1,803,062 |   | 6/22/2001 |   |   |   | 0.0% | 0 |   |
| 6/26/2001                                           | 1,200,000 | 124,258,971 | 2 | 0.7% | 910,322 |   | 6/26/2001 |   |   |   | 0.0% | 0 |   |
| 6/28/2001                                           | 379,696 | 124,638,667 | 11 | 4.0% | 5,022,071 |   | 6/28/2001 |   |   |   | 0.0% | 0 |   |
| 7/9/2001                                            | 2,709,500 | 127,348,167 | 4 | 1.5% | 1,865,907 |   | 7/9/2001 | 2,709,500 | 127,348,167 | 4 | 4.3% | 5,536,877 |   |
| 7/13/2001                                           | 1,259,237 | 128,607,404 | 4 | 1.5% | 1,884,358 |   | 7/13/2001 | 1,259,237 | 128,607,404 | 4 | 4.3% | 5,591,626 |   |
| 7/17/2001                                           | 800,000 | 129,407,404 | 6 | 2.2% | 2,844,119 |   | 7/17/2001 | 800,000 | 129,407,404 | 6 | 6.5% | 8,439,613 |   |
| 7/23/2001                                           | 300,000 | 129,707,404 | 1 | 0.4% | 475,119 |   | 7/23/2001 | 300,000 | 129,707,404 | 1 | 1.1% | 1,409,863 |   |
| 7/24/2001                                           | 1,020,000 | 130,727,404 | 1 | 0.4% | 478,855 |   | 7/24/2001 | 1,020,000 | 130,727,404 | 1 | 1.1% | 1,420,950 |   |
| 7/25/2001                                           | 400,000 | 131,127,404 | 5 | 1.8% | 2,401,601 |   | 7/25/2001 | 400,000 | 131,127,404 | 5 | 5.4% | 7,126,489 |   |
| 7/30/2001                                           | 240,000 | 131,367,404 | 2 | 0.7% | 962,399 |   | 7/30/2001 | 240,000 | 131,367,404 | 2 | 2.2% | 2,855,813 |   |
| 8/1/2001                                            | 400,000 | 131,767,404 | 5 | 1.8% | 2,413,322 |   | 8/1/2001 | 400,000 | 131,767,404 | 5 | 5.4% | 7,161,272 |   |
| 8/6/2001                                            | 100,000 | 131,867,404 | 1 | 0.4% | 483,031 |   | 8/6/2001 | 100,000 | 131,867,404 | 1 | 1.1% | 1,433,341 |   |
| 8/7/2001                                            | 93,790 | 131,961,194 | 2 | 0.7% | 966,749 |   | 8/7/2001 | 93,790 | 131,961,194 | 2 | 2.2% | 2,868,722 |   |
| 8/9/2001                                            | 896,158 | 132,857,352 | 1 | 0.4% | 486,657 |   | 8/9/2001 | 896,158 | 132,857,352 | 1 | 1.1% | 1,444,102 |   |
| 8/10/2001                                           | 62,000 | 132,919,352 | 4 | 1.5% | 1,947,536 |   | 8/10/2001 | 62,000 | 132,919,352 | 4 | 4.3% | 5,779,102 |   |
| 8/14/2001                                           | 180,000 | 133,099,352 | 7 | 2.6% | 3,412,804 |   | 8/14/2001 | 180,000 | 133,099,352 | 7 | 7.6% | 10,127,125 |   |
| 8/21/2001                                           | 2,504,000 | 135,603,352 | 8 | 2.9% | 3,973,725 |   | 8/21/2001 | 2,504,000 | 135,603,352 | 8 | 8.7% | 11,791,596 |   |
| 8/29/2001                                           | 150,000 | 135,753,352 | 6 | 2.2% | 2,983,590 |   | 8/29/2001 | 150,000 | 135,753,352 | 6 | 6.5% | 8,853,479 |   |
| 9/4/2001                                            | 250,000 | 136,003,352 | 2 | 0.7% | 996,362 |   | 9/4/2001 | 250,000 | 136,003,352 | 2 | 2.2% | 2,956,595 |   |
| 9/6/2001                                            | 96,829 | 136,100,181 | 13 | 4.8% | 6,480,961 |   | 9/6/2001 | 96,829 | 136,100,181 | 13 | 14.1% | 19,231,547 |   |
| 9/19/2001                                           | 3,928,070 | 140,028,251 | 1 | 0.4% | 512,924 |   | 9/19/2001 | 3,928,070 | 140,028,251 | 1 | 1.1% | 1,522,046 |   |
| 9/20/2001                                           | 224,500 | 140,252,751 | 8 | 2.9% | 4,109,971 |   | 9/20/2001 | 224,500 | 140,252,751 | 8 | 8.7% | 12,195,891 |   |
| 9/28/2001                                           | 605,000 | 140,857,751 | 2 | 0.7% | 1,031,925 |   | 9/28/2001 | 605,000 | 140,857,751 | 2 | 2.2% | 3,062,125 |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                | 50,035,164 |   | 273 | 100.0% | 115,391,441 |   |   | 16,219,084 |   | 92 | 100.0% | 133,001,088 |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   | NET LOSS |   |   | (18,940,500 | ) |   |   | NET LOSS |   |   | (5,676,996 | ) |
|                                                |   | Weighted Avg No. of Outstanding Shares | 115,391,441 |   |   |   | Weighted Avg No. of Outstanding Shares | 133,001,088 |   |
|                                                |   |   |   |   | (0.16 | ) |   |   |   |   |   | (0.04 | ) |
|                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

 

Potentiallydilutive securities from issuing additional shares of common stock resultingfrom the conversion or exercise of preferred stock, stock options and warrantsare not included in the calculation as the effect is antidilutive.