Correction: 35million warrants.
As an aside, after June 30th, we should be down to 380 million shares fully diluted from a pragmatic point of view.
Warrants:
35 million @ .70 expire 6/30/2011 (out)
3 million @ .30 expire 4/23/2012 (call these in the money)
16.5 million @ $3.00 expire after permit issuance (good luck with that out)
12.2 million @ $4.25 expire after permit issuance (ditto...out)
Options:
6.175 million @ .24 (call these in the money)
4.9 million @ .45 (call these in the money)
7.3 million appx. @ an average of $2.22 - $4.87 (out)
Roughly 365 outstanding today + 3 warrants + roughly 11 million options round up
380 million.