Possibly closer to 16,000,000 shares owed![/b
USING YOUR NUMBERS for previous conversion rates
$81,300/9,261,973 shares = $.00878/share!
$48,914/5,700,00 = $.00858/share!
Same basis which I suspect St George is arguing
$132,000 in debt/$.0086/share = 15,348,937 shares owed.
FWIW.
Time will tell who is right. Eventually the company has to disclose or face SEC!