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Re: paytheask post# 14561

Friday, 04/13/2012 10:42:37 AM

Friday, April 13, 2012 10:42:37 AM

Post# of 19262
They brought it down to 700M!

From the 10K:

Insufficient Authorized but Unissued Shares of Common Stock

The Company has a potential obligation to issue 700,486,949 and 838,510,748 shares of common stock upon the conversion of convertible notes and accrued interest, warrants and penalty shares issuable at December 31, 2011 and 2010, respectively. The Company had 282,956,546 and 202,385,103 shares of common stock outstanding at December 31, 2011 and 2010, respectively, and 500,000,000 shares of common stock authorized at December 31, 2011 and 2010. The Company’s potential obligation to issue shares has exceeded its shares authorized by 483,443,495 and 540,895,851shares at December 31, 2011 and 2010, respectively.

Note the reduction:

2010 - 839M fully diluted
2011 - 700M fully diluted

A reduction of 139M shares!
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