Remember the nevada deal..i seem to remember UC using 49 billion of his own shares for that deal...and then took them back...What did he do with them??...
Andy Hill said that all 75 billion shares were returned to Treasury. The drop in the o/s from 800 billion to 703 billion would appear to confirm that.
So I guess maybe those 40 (I believe it was 40 and not 45; it certainly wasn't 49) billion weren't Urbie's to begin with.