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Message: Outstanding Shares

Outstanding Shares

posted on Mar 08, 2006 09:27AM
Since there has been a lot of discussion about the number of shares, I decided to call Robert.

He stated that an updated registration of shares would be published by the end of the month. In addition he confirmed that by month end a company update would be made.

The following information has been extracted from the SEC documents:

Common shares outstanding and convertible:

175,260,876 issued and outstanding

7,906,491 series ``D`` Preferred

2,485,573 series ``EE`` Preffered Stock

7,894,736 12% Convertible Notes

6,182,500 Warrants

5,621,666 Options

205,351,842 Fully Diluted Total as of Dec 31, 2005

In addition we may be looking at 18,750,000 shares from 12% Converetible Notes for the recent 1.5 million debt financing and an added 50% or 9,375,000 for Warrants, a total of 28,125,000 common shares.

If the above is correct it would bring the total outsatanding to approx 194,000,000 and 233,476,842 fully diluted.

Since we are authorized 300 million, we still have left approx 66.5 million shares to issue.

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