EXHIBIT 11
                COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE
        FOR THREE AND NINE MONTH PERIODS ENDED December 31, 2000 and 1999


<TABLE>
<CAPTION>
                                                Three Months Ended            Nine Months Ended
                                                   December 31,                 December 31,
                                             --------------------------   --------------------------
                                                2000           1999          2000            1999
                                             -----------    -----------   -----------    -----------
<S>                                          <C>            <C>           <C>            <C>
Earnings per common share - basic
Net (loss) income ........................   $  (397,003)   $   549,219   $    32,644    $ 1,595,549
Preferred dividends ......................       (49,218)             0      (147,656)             0
                                             -----------    -----------   -----------    -----------

Net (loss) income  - basic ...............   $  (446,221)   $   549,219   $  (115,012)   $ 1,595,549
                                             -----------    -----------   -----------    -----------

Weighted average common shares
   outstanding - basic ...................     2,261,322      2,229,392     2,256,780      2,223,664
                                             -----------    -----------   -----------    -----------

Net (loss) income per common
   share - basic .........................   $     (0.20)   $      0.25   $     (0.05)   $      0.72
                                             -----------    -----------   -----------    -----------



Earnings per common share - diluted
Net (loss) income - basic ................   $  (446,221)   $   549,219   $  (115,012)   $ 1,595,549
Impact of potential conversion of
   convertible preferred stock
    to common stock ......................        49,218              0       147,656              0
                                             -----------    -----------   -----------    -----------

Net (loss) income - diluted ..............   $  (397,003)   $   549,219   $    32,644    $ 1,595,549
                                             -----------    -----------   -----------    -----------

Weighted average shares
   outstanding - basic ...................     2,261,322      2,229,392     2,256,780      2,223,664
Effect of dilutive securities - convertible
   preferred stock .......................       208,333              0       208,333              0
                                             -----------    -----------   -----------    -----------

Weighted average shares
   outstanding - diluted..................     2,469,655      2,229,392     2,465,113      2,223,664
                                             -----------    -----------   -----------    -----------

Net (loss) income per common
    share - diluted.......................   Anti-dilutive  $      0.25    Anti-dilutive $      0.72
                                                            -----------                  -----------
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