Exhibit 11



ALLIN CORPORATION



CALCULATION OF EARNINGS (LOSS) PER COMMON SHARE



(Dollars in thousands, except per share data)



|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|------------------------------------------------------------------------- |  | -------------------------- | ---------- | -------------------------- | - | -------------------------- |  | - | --------- | -
|                                                                          |  | Year EndedDecember 31,2002 |            | Year EndedDecember 31,2003 |   | Year EndedDecember 31,2004 | 
|Income from continuing operations                                         |  | $                          | 999        |                            | $ | 780                        |  | $ | 284       |  
|                                                                          |  |                            |           
|Income from discontinued operations                                       |  |                            | 10         |                            |   |                           |  |   |          |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Net income                                                                |  |                            | 1,009      |                            |   | 780                        |  |   | 284       |  
|                                                                          |  |                            |           
|Accretion and dividends on preferred stock                                |  |                            | 684        |                            |   | 710                        |  |   | 740       |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Net income (loss) attributable to common shareholders                     |  | $                          | 325        |                            | $ | 70                         |  | $ | (456      | )
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Earnings (loss) per common share from continuing operations - basic       |  | $                          | 0.05       |                            | $ | 0.01                       |  | $ | (0.07     | )
|Earnings per common share from discontinued operations - basic            |  | $                          | 0.00       |                            | $ | 0.00                       |  | $ | 0.00      |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Earnings (loss) per common share - basic                                  |  | $                          | 0.05       |                            | $ | 0.01                       |  | $ | (0.07     | )
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Earnings (loss) per common share from continuing operations - diluted     |  | $                          | 0.04       |                            | $ | 0.01                       |  | $ | (0.07     | )
|Earnings per common share from discontinued operations - diluted          |  | $                          | 0.00       |                            | $ | 0.00                       |  | $ | 0.00      |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Earnings (loss) per common share - diluted                                |  | $                          | 0.04       |                            | $ | 0.01                       |  | $ | (0.07     | )
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Weighted average common shares outstanding during the period - basic      |  |                            | 6,967,339  |                            |   | 6,967,339                  |  |   | 6,967,339 |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Weighted average common shares outstanding during the period              |  |                            | 6,967,339  |                            |   | 6,967,339                  |  |   | 6,967,339 |  
|Effect of convertible preferred stock                                     |  |                            | 4,285,714  |                            |   |                           |  |   |          |  
|Effect of options                                                         |  |                            |           |                            |   | 12,885                     |  |   |          |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |  
|Weighted average number of shares outstanding during the period - diluted |  |                            | 11,253,053 |                            |   | 6,980,224                  |  |   | 6,967,339 |  
|                                                                          |  |                            |            |                            |   |                            |  |   |           |