## 

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
9/30/99 |   | Three Months
Ended
9/30/00 |   | Nine Months
Ended
9/30/99 |   | Nine Months
Ended
9/30/00 |  
|----------------------------------------------------- |  | ---------------- | - | -------------------------- |  | -------------------------- | - | -------------------------- | - | ------------------------- | - | ------------------------- | -
|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                    |   | 529,822                   |   | 529,823                   |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|June '97                                              |  | 407,093          |   |                            |  |                            |   |                            |   |                           |   |                           |  
|July, August & Sept '97                               |  | 661,901          |   |                            |  | 35,337                     |   |                            |   | 35,337                    |   |                           |  
|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          |   |                            |  | 466,505                    |   | 466,503                    |   | 466,505                   |   | 466,503                   |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|                                                      |  | 5,424,814        |   |                            |  |                            |   |                            |   |                           |   |                           |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|Jan, Feb & March '99                                  |  | 305,570          |   |                            |  | 305,570                    |   | 305,570                    |   | 254,642                   |   | 305,570                   |  
|April, May & June '99                                 |  | 442,897          |   |                            |  | 442,897                    |   | 442,897                    |   | 221,449                   |   | 442,897                   |  
|July, Aug & Sept '99                                  |  | 165,648          |   |                            |  | 82,824                     |   | 165,648                    |   | 27,608                    |   | 165,648                   |  
|Oct., Nov. & Dec '99                                  |  | 119,056          |   |                            |  |                           |   | 119,056                    |   |                           |   | 119,056                   |  
|Sept '99 Warrant Exercise Shares                      |  | 37,500           |   |                            |  | 18,750                     |   | 37,500                     |   | 6,250                     |   | 37,500                    |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|                                                      |  | 1,070,671        |   |                            |  |                            |   |                            |   |                           |   |                           |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|Jan, Feb & March '00                                  |  | 4,438,439        |   | 7.5                        |  |                           |   | 4,438,439                  |   |                          |   | 3,698,699                 |  
|April, May & June '00                                 |  | 6,068            |   | 4.5                        |  |                           |   | 6,068                      |   |                           |   | 3,034                     |  
|July, August & September '00                          |  | 1,019,324        |   | 1.5                        |  |                            |   | 509,662                    |   |                           |   | 169,887                   |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|Weighted Average Shares                               |  |                  |   |                            |  | 10,892,499                 |   | 16,031,959                 |   | 10,552,406                |   | 14,949,410                |  
|                                                      |  |                  |   |                            |  |                            |   |                            |   |                           |   |                           |  
|Net Income (Loss) Attributable to Common Stockholders |  |                  |   |                            |  | (1,973,350                 | ) | (5,457,368                 | ) | (5,516,158                | ) | (10,111,187               | )
|Net Income (Loss) Per Share                           |  |                  |   |                            |  | (0.18                      | ) | (0.34                      | ) | (0.52                     | ) | (0.68                     | )

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