Replies to post #4393 on GTC Biotherapeutics (fka GTCB)

[DewDiligence]

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.