If they do not get finance before 22nd, and pay cash to the noteholders, then they have to release the shares to noteholders ; Look at the 10 Q page F-9

"Note Payable, due October 22, 2015 ....$35,000 "

I could not find the conditions in the 10 Q, but typically it is at 40 % of lowest closing SP price in prior 2-4 weeks. So 35 K at 0.02 (40%) is about 1.75 million shares.