Saturday, December 03, 2016 10:52:11 PM
I've been tracking the OS via the transfer agent for the past month. There has been some clerical errors in the OS reported by TA during this time. They have been corrected now.
The actual current OS per TA is...
2,045,269,859. The company, via IR, confirmed this with me today (Saturday 03-Dec).
The OS on the OTC site 1,992,302,852. This is not correct.
The difference between the OS provided by TA and that on the OTC site is 51,666,667 + 2,300,340. The 51.6 mil share increase is from conversions of some of the convertible notes held by investors (confirmed by IR today). I'm not sure what the other 2.3 mil increase is for.
The company confirmed with me that as of today, the OS has only been reduced by 1,009,330,57 (Dr. Leonard's portion). The other share retirements have not taken place yet.
In addition, IR confirmed today that the company plans to reduce the OS by another 370,179,802 shares with the retirement of common shares belonging to Mr. Staker and to a Nugent family trust. Of these 370,179,802 shares 277,565,909 of them are expected to be retired NEXT WEEK and 92,613,893 sometime thereafter.
Soooooo.... IN SUMMARY
Assuming no more conversions...
The OS should be at 1,767,703,950, sometime next week after the next retirement of 277,565,909 shares takes place. Then sometime after that (specific time was not provided), the remaining 92,613,893 shares will be retired resulting in an OS of 1,675,090,057.
My apologies for the long post. Hope it makes sense.
$TTCM
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