I believe the confusion is the difference between shares outstanding and shares authorized. The 200.47 shares outstanding represents those shares that are being traded in the public domain out of the 300M shares that have been authorised by shareholders. There are additional shares that should be added to the shares outstanding when warrants are converted. This is called fully diluted. The 8k issued yesterday is a case in point. There were apx. 1.415M additional shares issued when warrants were exercised and preferred shares converted. increasing the shares outstanding by that amount or 201.88M When fully diluted the number of shares outstanding is somewhere around 2.75M give or take 5M. I can't keep track of it. I only think I know what I'm talking about, FWIW Larry Larry