iElement Corporation (fka IELE)

[Argyll]

Anyone have an idea of actual OS ---

From the 1-24 PR: "MailKey issued approximately 47.8 million shares of common stock in exchange for all of the issued and outstanding shares of capital stock of iElement."

1-25 8K -- "the Company issued an aggregate of 47,845,836 shares of its common stock...in exchange for all of the issued and outstanding shares of capital stock of I-Element."

From the 10Q: "There were 34,726,355 issued and outstanding shares of the registrant's common stock, $.001 par value per share, on February 16, 2005."

Something not right here. Deal was announced closed in January, but company states OS was 34.7 M on 2-16.