I use 108M as the fully-diluted share count for valuation purposes (#msg-15309465). This takes into account options and warrants that could conceivably become in-the-money during the next 2-3 years. Regards, Dew
p.s. There is no need to make a distinction between common and preferred shares because they are exactly the same for valuation purposes.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”