Exhibit 11.1

AVAX Technologies, Inc.
Computation of Earnings (Loss) Per Share 10K

|Month of Issuance For
F/S Purposes                    |  | Number of
Shares |   | Months O/S
Each Given
Year |   | Three Months
Ended
9/30/00 |   | Three Months
Ended
9/30/01 |   | Nine Months
Ended
9/30/00 |   | Nine Months
Ended
9/30/01 | 
|----------------------------------------------------- |  | ---------------- | - | -------------------------- | - | -------------------------- | - | -------------------------- | - | ------------------------- | - | ------------------------- | 
|January '90                                           |  | 582,500          |   |                            |   | 582,500                    |   | 582,500                    |   | 582,500                   |   | 582,500                   | 
|August '91                                            |  | 230,000          |   |                            |   | 230,000                    |   | 230,000                    |   | 230,000                   |   | 230,000                   | 
|June '92                                              |  | 287,098          |   |                            |   | 287,098                    |   | 287,098                    |   | 287,098                   |   | 287,098                   | 
|July '93                                              |  | 7,358            |   |                            |   |                            |   |                            |   |                           |   |                           | 
|November '93                                          |  | 1,359            |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 8,717            |   |                            |   | 8,717                      |   | 8,717                      |   | 8,717                     |   | 8,717                     | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|July '94                                              |  | 3,750            |   |                            |   | 3,750                      |   | 3,750                      |   | 3,750                     |   | 3,750                     | 
|April '95                                             |  | (111,330         | ) |                            |   |                            |   |                            |   |                           |   |                           | 
|May '95                                               |  | (196,618         | ) |                            |   |                            |   |                            |   |                           |   |                           | 
|September '95                                         |  | 402,490          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|November '95                                          |  | 1,374,728        |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 1,469,270        |   |                            |   | 1,469,270                  |   | 1,469,270                  |   | 1,469,270                 |   | 1,469,270                 | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|March '96                                             |  | (77,901          | ) |                            |   |                            |   |                            |   |                           |   |                           | 
|May & June '96                                        |  | 321,875          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|May & June '96                                        |  | 129,099          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|June '96                                              |  | 9,875            |   |                            |   |                            |   |                            |   |                           |   |                           | 
|July '96                                              |  | 146,875          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 529,823          |   |                            |   | 529,823                    |   | 529,823                    |   | 529,823                   |   | 529,823                   | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|June '97                                              |  | 407,093          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|July, August & Sept '97                               |  | 661,901          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Oct, Nov & Dec '97                                    |  | 402,153          |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 1,471,147        |   |                            |   | 1,471,147                  |   | 1,471,147                  |   | 1,471,147                 |   | 1,471,147                 | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Jan, Feb & March '98                                  |  | 285,832          |   |                            |   | 285,832                    |   | 285,832                    |   | 285,832                   |   | 285,832                   | 
|April, May & June '98                                 |  | 353,236          |   |                            |   | 353,236                    |   | 353,236                    |   | 353,236                   |   | 353,236                   | 
|July, Aug & Sept                                      |  | 4,319,243        |   |                            |   | 4,319,243                  |   | 4,319,243                  |   | 4,319,243                 |   | 4,319,243                 | 
|Oct., Nov. & Dec '98                                  |  | 466,503          |   |                            |   | 466,503                    |   | 466,503                    |   | 466,503                   |   | 466,503                   | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 5,424,814        |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Jan, Feb & March '99                                  |  | 305,570          |   |                            |   | 305,570                    |   | 305,570                    |   | 305,570                   |   | 305,570                   | 
|April, May & June '99                                 |  | 442,897          |   |                            |   | 442,897                    |   | 442,897                    |   | 442,897                   |   | 442,897                   | 
|July, Aug & Sept '99                                  |  | 165,648          |   |                            |   | 165,648                    |   | 165,648                    |   | 165,648                   |   | 165,648                   | 
|Oct., Nov. & Dec '99                                  |  | 119,056          |   |                            |   | 119,056                    |   | 119,056                    |   | 119,056                   |   | 119,056                   | 
|Sept '99 Warrant Exercise Share                       |  | 37,500           |   |                            |   | 37,500                     |   | 37,500                     |   | 37,500                    |   | 37,500                    | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 1,070,671        |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Jan, Feb & March '00                                  |  | 4,438,439        |   |                            |   | 4,438,439                  |   | 4,438,439                  |   | 3,698,699                 |   | 4,438,439                 | 
|April, May & June '00                                 |  | 6,068            |   |                            |   | 6,068                      |   | 6,068                      |   | 3,034                     |   | 6,068                     | 
|July, August & September '00                          |  | 1,019,324        |   |                            |   | 509,662                    |   | 1,019,324                  |   | 169,887                   |   | 1,019,324                 | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  | 5,463,831        |   |                            |   |                            |   |                            |   |                           |   |                           | 
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Weighted Average Shares                               |  |                  |   | 16,031,959                 |   | 16,541,621                 |   | 14,949,410                 |   | 16,541,621                |  
|                                                      |  |                  |   |                            |   |                            |   |                            |   |                           |   |                           | 
|Net Income (Loss) Attributable to Common Stockholders |  |                  |   | (5,457,368                 | ) | (3,060,998                 | ) | (10,111,187                | ) | (8,846,965                | )
|Net Income (Loss) Per Share                           |  |                  |   | (0.34                      | ) | (0.19                      | ) | (0.68                      | ) | (0.53                     | )

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