In that 20F is says: 'As of the date of this annual report, 204,375,226 of our ordinary shares were issued and outstanding.' (p.76) http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9615240 On p. 75 you can see that 164 million are owned by directors. So where is that 20,4 OS coming from?