From Jamis' post you can estimate the authorized shares that are going to be required.
My quick take:
689,153,592 Outstanding shares
+121,600,000 outstanding options
+ 64,049,738 outstanding warrants
+124,246,699 debt convertible
+ 8,980,202 payment of services or purchase of digital assets
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=883,783,532 fully dilute shares currently
Now add in the 154,228,625 shares that Pasaca will get for conversion of the soon to be issued $4.5 Senior Note.
883,783,532 fully dilute shares currently
+154,228,625 Senior Note
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1,038,012,157
Then determine the number of shares that Pasaca will need to be sold for $10.5 million at the second closing to give them 51% of the new fully diluted shares
154,228,625 + 770,000,000 = 925,000,000
925,000,000 / (883,000,000 + 925,000,000)
925,000,000 / (1,808,000,000) = 51%
So Authorized Shares needs to be above 1.8 billion.
