Hybrid Coating Technologies Inc (fka HCTI)

[r clarke]

Appreciate you doing the math, but the assumption that the ratio would remain the same over time is what I would question. This is especially
true because the ratio was obtained from a small sample period.

Volumes, community sentiment, etc varied greatly during the last few months.

My opinion is the OS is considerably higher than your estimate.
( closer to 20B )

... based on volumes, Nevada filings, etc.

On some level, I dont want to think the pps is .0001 and we still have
15B shares of dilution to look forward to.

That isnt a pleasant thought.

We're almost better off if the OS is closer to the 22.5B "Nevada limit"

... than having the much lower estimate you have.