"the report" share count is not quite correct, or at least not displaying quite the "full story", IMO.
It lists the Shares Outstanding: 466,396,016 a/o May 06, 2014
This is correct per page 1, most recent filed 10-Q, for qtr ending March 31st, 2014, as "shares outstanding".
It however does not account for "fully diluted" shares, which would include all shares needed to cover things like warrants issued, "convertible bonds" that would need to be covered if converted, etc. "Fully diluted", takes into account all shares "issued" if all convertible securities were exercised. Convertible securities refers to all outstanding convertible preferred shares, convertible debentures, stock options and warrants, etc.
BHRT for example, has recently issued a LOT of warrants. See most recent 10-Q, PAGE 22, as just one example: Cassel was issued, " 5,207,630 ten year common stock purchase warrants, exercisable at $.0113 ". That's 5 MILLION shares that would become "free trading" common shares at ONE CENT if exercised. Pretty important, IMO, given the 1 cent strike price (they're "in the money" right now, as in they could double their money if sold as the price right now of about 2 cents).
"Fully diluted" is very important IMO, as the dilution is actually heavier than meets the eye, and would not be fully understood if one doesn't know the "fully diluted" number.
Most recent 10-Q, PAGE 10:
" Fully diluted shares outstanding were 498,696,292 and 222,688,816 for the three months ended March 31, 2014 and 2013, respectively."
So, there is actually close to HALF A BILLION "fully diluted" shares now, and per the recently filed form 14C, the "authorized" shares is being increased from about 950 MILLION, to 2 BILLION now.
To see the effect of these "fully diluted" shares becoming "free trading common stock" and adding to the dilution of the common shareholder, see most recent 10-Q, PAGE 24: (just in April, 2014, 11 MILLION more shares were "diluted" via one transaction of warrants)
"In April 2014, the Company issued 11,918,181 shares of its common stock in connection with the exercise of warrants. Proceeds received was $136,000, of which $6,000 during the three months ended March 31, 2014."
Thus, one can see from PAGE 10 of the most 10-Q, that the outstanding shares have more than DOUBLED in just the past, one year period. Dilution, in other words, and a lot of it.
