OCRX’s fully-diluted share count for valuation purposes=32.5M. This consists of 26.0M basic shares on the 3/31/17 balance sheet (https://www.sec.gov/Archives/edgar/data/1274644/000127464417000040/ocera1q-201710q.htm#s3F1048AE7FAB51FEA8893340B4B88283 ); 6.0M options warrants, and non-vested restricted shares (ibid, page 13); and 0.5M shares sold via the ATM facility during Apr 2017 (ibid, page 14).