Here's where you're wrong!
Eugene has already disclosed to all sharesholders:
Weighted average diluted shares outstanding 824,657,317
On March 31, 2008, the Company had 975,000,000 common shares
authorized, of which 194,867,219 shares were issued and
outstanding. As of March 31, 2008, the number of common shares
of the Company that could be issued upon conversion of all
outstanding convertible notes exceeded 780,132,781 common
shares, leaving the Company with insufficient authorized
common stock to honor all possible conversion requests.
1 + 1 = 2