And that 60 million doesn't include the 222 million commons represented in the outstanding preferred shares waiting to be converted to further dilute shareholder value according to today's S-1:
"all information in this prospectus is based on 60,332,314 shares of common stock issued and outstanding as of January 24, 2017, and:
-excludes 5,000 shares of our common stock issuable upon exercise of outstanding warrants at a weighted average exercise price of $4.50 per share as of January 24, 2017;
-excludes 12,850,000 shares of our common stock issuable upon exercise of outstanding options at a weighted average exercise price of $0.02 per share as of January 24, 2017.
-excludes 33,330 shares of our common stock issuable upon conversion of 6,666 shares of Series B Convertible Preferred Stock (the “Series B Preferred Stock”) as of January 24, 2017, not accounting for 9.99% beneficial ownership limitations;
-excludes 35,403,650 shares of our common stock issuable upon conversion of 3,540,365 shares of Series C Convertible Preferred Stock (the “Series C Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;
-excludes 66,679,680 shares of our common stock issuable upon conversion of 3,333,984 shares of Series D Convertible Preferred Stock (the “Series D Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;
-excludes 78,179,700 shares of our common stock issuable upon conversion of 7,817,970 shares of Series E Convertible Preferred Sto ck (the “Series E Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;
-excludes 1,099,998 shares of our common stock issuable upon conversion of 1,099,998 shares of Series F Convertible Preferred Stock (the “Series F Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;
-excludes 10,083,351 shares of our common stock issuable upon conversion of 10,083,351 shares of Series G Convertible Preferred Stock (the “Series G Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations;
-excludes 8,750,000 shares of our common stock issuable upon conversion of 87,500 shares of Series H Convertible Preferred Stock (the “Series H Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations; and
-excludes 9,294,400 shares of our common stock issuable upon conversion of 92,944 shares of Series I Convertible Preferred Stock (the “Series I Preferred Stock”) as of January 24, 2017, not accounting for 4.99% beneficial ownership limitations."
