I have read nearly all the filings, thus I know, what it contain...but what do you make of this FACTS from the 2002 filing:

"We may currently issue more than 20% of our outstanding shares under the convertible debentures."

"Lincon Ventures' ownership is 27,910,526 shares/warrants as of August 02."

"Total shares outstanding prior to the offering: 81,465,757 as of August 12, 2002."

"Total shares that would be outstanding assuming full conversion of the current offering and exercise of all outstanding options and warrants: 144,543,700."

27,9mio shares equal nearly 20% of 144mio - or where am I wrong here?

TIA