Unisource Corp. (USRC)

[Barnaby1]

Actually no. I did the math including all of the issuances and retirements that you mentioned below, and the new fully diluted outstanding number appears to be 71,691,983.

Keep in mind, disclosure requirements state that the number of shares outstanding listed must include any and all issuances or other activities that are disclosed in the report. As all of the items you listed are in the report, then they must be tallied into the reported number of total shares outstanding.

This does not mean that the company won't issue more shares in the future, but as far as where things stand now, it appears that they have reduced the outstanding by over 12%, INCLUDING the shares issued to the new investor and for the transaction.

Simply put, over 19 million shares appear to have been retired and 10m were issued, meaning a total reduction of over 9 million shares outstanding.