EXHIBIT 11



STATEMENT REGARDING COMPUTATION

OF PER SHARE
EARNINGS



|                                              |  |  |  |  |  |  |  |          
|--------------------------------------------- |  |  |  |  |  |  |  | ---------
|                                              |  |  |  |  |  |  |  | SHARES   
|For the three months ended December 31, 2004  |  |  |  |  |  |  |  |          
|                                              |  |  |  | 
|Basic Shares outstanding at December 31, 2004 |  |  |  |  |  |  |  | 1,762,447



|                         |  |   |           |   |  |   |  |   |      |            
|------------------------ |  | - | --------- | - |  | - |  | - | ---- | -----------
|Net (loss) after tax     |  | $ | (141,713  | ) |  | = |  | $ | (.08 | ) per share
|Basic Shares outstanding |  |   | 1,762,447 |   |  |   |  |   |      |            



|                                              |  |  |  |  |  |  |  |          
|--------------------------------------------- |  |  |  |  |  |  |  | ---------
|For the six months ended December 31, 2004    |  |  |  |  |  |  |  |          
|                                              |  |  |  | 
|Basic Shares outstanding at December 31, 2004 |  |  |  |  |  |  |  | 1,762,447



|                         |  |   |           |   |  |   |  |   |      |            
|------------------------ |  | - | --------- | - |  | - |  | - | ---- | -----------
|Net (loss) after tax     |  | $ | (26,517   | ) |  | = |  | $ | (.02 | ) per share
|Basic Shares outstanding |  |   | 1,762,447 |   |  |   |  |   |      |            



|                                                |  |  |  |  |  |  |  |          
|----------------------------------------------- |  |  |  |  |  |  |  | ---------
|For the three months ended December 31, 2004    |  |  |  |  |  |  |  |          
|                                                |  |  |  | 
|Diluted Shares outstanding at December 31, 2004 |  |  |  |  |  |  |  | 1,835,434



|                           |  |   |           |   |  |   |  |   |      |             
|-------------------------- |  | - | --------- | - |  | - |  | - | ---- | ------------
|Net (loss) after tax       |  | $ | (141,713  | ) |  | = |  | $ | (.08 | ) per share*
|Diluted Shares outstanding |  |   | 1,835,434 |   |  |   |  |   |      |             



|                                                |  |  |  |  |  |  |  |          
|----------------------------------------------- |  |  |  |  |  |  |  | ---------
|For the six months ended December 31, 2004      |  |  |  |  |  |  |  |          
|                                                |  |  |  | 
|Diluted Shares outstanding at December 31, 2004 |  |  |  |  |  |  |  | 1,835,434



|                           |  |   |           |   |  |   |  |   |      |             
|-------------------------- |  | - | --------- | - |  | - |  | - | ---- | ------------
|Net (loss) after tax       |  | $ | (26,517   | ) |  | = |  | $ | (.02 | ) per share*
|Diluted Shares outstanding |  |   | 1,835,434 |   |  |   |  |   |      |             

---

|* | Note: Basic earnings per share is computed as earnings divided by weighted average basic shares outstanding. When a loss occurs, Diluted (loss) per share and Basic (loss) per share
are the same.
|- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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