EXHIBIT 11



STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS



|                                                |  |   |            |   |  |                    |        |          
|----------------------------------------------- |  | - | ---------- | - |  | ------------------ | ------ | ---------
|Basic (loss) per share                          |  |   |            |   |  |                    |        |          
|                                                |  |   |           
|For the three months ended                      |  |   |            |   |  |                    | Shares
|Basic shares outstanding at December 31, 2003   |  |   |            |   |  |                    |        | 1,762,447
|Net (loss)                                      |  |   | $(358,656) |   |  | $(.20) per share  
|                                                |  |   |            |   |  |                    |        |          
|Weighted average basic shares outstanding       |  |   | 1,762,447  |   |  |                    |        |          
|                                                |  |   |           
|For the six months ended                        |  |   |            |   |  |                    | Shares
|Basic shares outstanding at December 31, 2003   |  |   |            |   |  |                    |        | 1,762,447
|Net (loss)                                      |  | $ | (510,348   | ) |  | $(.29) per share  
|                                                |  |   |            |   |  |                    |        |          
|Weighted average basic shares outstanding       |  |   | 1,762,447  |   |  |                    |        |          
|Diluted (loss) per share                        |  |   |            |   |  |                    |        |          
|                                                |  |   |           
|For the three months ended                      |  |   |            |   |  |                    | Shares
|Diluted shares outstanding at December 31, 2003 |  |   |            |   |  |                    |        | 1,828,601
|Net (loss)                                      |  | $ | (358,656   | ) |  | $(.20) per share *
|                                                |  |   |            |   |  |                    |        |          
|Diluted shares outstanding                      |  |   | 1,828,601  |   |  |                    |        |          
|                                                |  |   |           
|For the six months ended                        |  |   |            |   |  |                    | Shares
|Diluted shares outstanding at December 31, 2003 |  |   |            |   |  |                    |        | 1,828,601
|Net (loss)                                      |  | $ | (358,656   | ) |  | $(.29) per share *
|                                                |  |   |            |   |  |                    |        |          
|Diluted shares outstanding                      |  |   | 1,828,601  |   |  |                    |        |          



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



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