That # is also presented on the TSX website and includes convertible debentures, warrants and options. I don't think they are available for trading so I used the lesser #. 

In any event, I remain in agreement with CM that the warrant overhang is very near to being completed. Unfortunately volume on the bid side of the equation doesn't support the move to Nasdaq. Personally, I think may potential investors are influenced by the initial Chinese content to the company's overall market penetration strategies. Hopefully this gets balanced out sooner rather than later but again, that's all up to management.

Hogan