from 10-Q
1 page
Exhibit 11.2 <table> <caption> Cai Wireless Systems, Inc. and Subsidiaries Computation of Fully Diluted Loss Per Common Share for the Nine-Month Period Ended December 31, 1996 <s> <c> Loss Applicable to Common Stock Shareholders $ (67,069,606) Less: Preferred Stock Dividends 9,576,367 Net Loss Used to Calculate Fully Diluted Loss Per Common Share, Before Adjustments (57,493,239) Less : Adjustments Interest Expense on Term Notes Assumed to Be Converted, Net of Deferred Tax Effect....................... 1,917,000 Interest Expense Reduction Resulting From the Assumed Proceeds From Exercise of Warrants and Options in Excess of the 20 % Buyback Applied Against Short and Long Term Debt, Net of Deferred Tax Effect........................................ 10,994,000 Adjusted Net Loss $(44,582,239) Weighted Average Fully Diluted Loss Per Common Share $ (0.62) Weighted Average Common and Equivalent Shares Outstanding as of December 31, 1996 39,915,020 Add Shares Assuming Conversion of : Warrants, Banx 36,751,083 Warrants, Other 2,235,541 Options 2,152,604 Treasury Stock Repurchase With Proceeds (8,108,108) Weighted Average Number of Shares Used to Compute Fully Diluted Loss Per Common Share 72,946,140 </Table> A. Interest Expense Reduction Resulting From Excess Proceeds (Over 20% Treasury Stock Purchase) Used to Reduce Debt Is Calculated Based on Actual Interest Expense Incurred on the Senior Notes. B. Treasury Method Used to the Extent of the 20% Limit on the Shares Outstanding as of December 31, 1996. This Calculation Is Submitted in Accordance With Regulation S-K Item 601(b)(11) Although It Is Contrary to Paragraph 40 of Apb Opinion No. 15 Because It Produces an Anti-Dilutive Result
