Cordia Corporation

Computation of Per Share (Loss) Earnings

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For the Years Ended December 31,

2007

2006

2005

As Restated

NUMERATOR – BASIC

Net  (Loss) Income

$   (3,805,741)

$   (3,095,291)

$   1,265,460 

Deduct: Preferred Stock Dividend

- 

- 

(212,415)

Numerator for Basic (Loss) Earnings Per Share

$   (3,805,741)

$   (3,095,291)

$   1,053,045 

NUMERATOR – DILUTED

Numerator for Basic Earnings Per Share

$   (3,805,741)

$   (3,095,291)

$   1,053,045 

Add: Preferred Stock Dividend

- 

- 

212,415 

Numerator for Diluted (Loss) Earnings Per Share

$   (3,805,741)

$   (3,095,291)

$   1,265,460 

DENOMINATOR

Weighted average number of common shares outstanding

5,674,397 

5,602,370 

4,675,779 

Assumed conversion of preferred stock

- 

- 

1,104,584 

Assumed exercise of stock options

- 

- 

598,866 

Denominator for Diluted Earnings Per Share

5,674,397 

5,602,370 

6,379,229 

Basic  (loss) earnings per common share

$            (0.67)

$            (0.55)

$            0.23 

Diluted  (loss) earnings per common share

$            (0.67)

$            (0.55)

$            0.20