I think you have found the correct answer.

His total would compute to 2,738,500 +1,000,000 converting 10,000 preferred to common, + 100,411 to reflect the 5% dividend over the 2 years.

This adds up to 3,838,911 plus the outstanding options of 1,250,000 ( includes 1,000,000 warrants and 250,000 common)= 5,088,911 from the fiscal year end data. Another 325,000 options were granted in June 2010, total options then would equal 1,575,000.

I believe these are the correct and complete numbers.

Anyway you cut it, he sits on a large amount of change depending on the share price in the not to distant future, that is if all goes well.