STATEMENT REGARDING COMPUTATION OF NET LOSS PER SHARE
PERIOD FROM INCEPTION NINE MONTHS (JUNE 30, 1995) TO ENDED MARCH 31, 1996 DECEMBER 31, 1996 --------------------- ----------------- Net loss............................... $(3,232,410) $(26,118,792) =========== ============ Shares used in calculation of net loss per share: Weighted average common shares outstanding......................... 13,462,963 17,563,288 ----------- ------------ Shares used in computing net loss per share............................... 13,462,963 17,563,288 =========== ============ Net loss per share................... $ (0.24) $ (1.49) =========== ============ Calculation of shares outstanding for computing proforma net loss per share: Weighted average common shares outstanding......................... 13,462,963 17,563,288 Adjusted to reflect effect of assumed conversion of preferred stock from date of issuance.................... 1,083,924 9,417,729 ----------- ------------ Shares used in computing proforma net loss per share...................... 14,546,887 26,981,017 =========== ============ Proforma net loss per share.......... $ (0.22) $ (0.97) =========== ============