RVNC’s fully-diluted* share count for valuation purposes is 35.0M. This figure consists of: 30.9M basic shares on the 9/30/17 balance sheet (https://www.sec.gov/Archives/edgar/data/1479290/000147929017000042/rvncq31710q.htm#s566245125C215CE2A164C516887ADD48 ); and 4.1M options, warrants, and non-vested restricted stock (ibid, page 18). *Non-treasury method.