Bashscripts.org

Hi Guys
Need to start learning scripting, so here is my first go at creating a large number of accounts script:
bulk-newusers.txt

#!/bin/sh
for i in `more user-list.txt `
do
echo $i
/usr/sbin/useradd -m $i
echo $i:$i"123" | /usr/sbin/chpasswd
echo; echo "User "$i"’s password changed!"
done

That works great as long as the account does not exist,. So I tried a if statement:
#!/bin/sh
for i in `more user-list.txt `
do
echo $i
#/usr/sbin/useradd -m $i
#done

if [ -f /home/"$i" ]; then
echo "User Exsists"
exit
else
/usr/sbin/useradd -m $i

fi
done