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 |  | Year
Ended
12/31/99 |   | Year
Ended
12/31/00 |   | Quarter
Ended
3/31/00 |   | Quarter
Ended
3/31/01 |  
|----------------------------------------------------- |  | ---------------- | - | -------------------------- |  | ------------------- | - | ------------------- | - | --------------------- | - | --------------------- | -
|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          |   |                            |  | 267,374             |   | 305,570             |   | 305,570               |   | 305,570               |  
|April, May & June '99                                 |  | 442,897          |   |                            |  | 276,811             |   | 442,897             |   | 442,897               |   | 442,897               |  
|July, Aug & Sept '99                                  |  | 165,648          |   |                            |  | 62,118              |   | 165,648             |   | 165,648               |   | 165,648               |  
|Oct., Nov. & Dec '99                                  |  | 119,056          |   |                            |  | 14,882              |   | 119,056             |   | 119,056               |   | 119,056               |  
|Sept '99 Warrant Exercise Shares                      |  | 37,500           |   |                            |  | 14,063              |   | 37,500              |   | 37,500                |   | 37,500                |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  | 1,070,671        |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|Jan, Feb & March '00                                  |  | 4,438,439        |   |                            |  |                     |   | 3,883,634           |   | 2,219,220             |   | 4,438,439             |  
|April, May & June '00                                 |  | 6,068            |   |                            |  |                     |   | 3,793               |   |                       |   | 6,068                 |  
|July, August & September '00                          |  | 1,019,324        |   |                            |  |                     |   | 382,247             |   |                       |   | 1,019,324             |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  | 5,463,831        |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|Weighted Average Shares                               |  |                  |   |                            |  | 10,642,367          |   | 15,347,464          |   | 13,297,010            |   | 16,541,621            |  
|                                                      |  |                  |   |                            |  |                     |   |                     |   |                       |   |                       |  
|Net Income (Loss) Attributable to Common Stockholders |  |                  |   |                            |  | (7,867,563          | ) | (16,276,749         | ) | (2,266,851            | ) | (3,247,953            | )
|Net Income (Loss) Per Share                           |  |                  |   |                            |  | (0.74               | ) | (1.06               | ) | (0.17                 | ) | (0.20                 | )

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