Yes teomax, my understanding is that all the private placement shares are accounted for in the outstanding share amount. When the private placement (and/or ex-directors) shares are sold, they first file a form 144 and as these shares are sold they become part of the public float.
* "Outstanding Shares Stock currently held by investors, including restricted shares owned by the company's officers and insiders as well as those held by the public. Shares that have been repurchased by the company are not considered outstanding stock. They are also known as "issued shares" or "issued and outstanding".
Notes: This number is shown on company's' balance sheets under the heading "Capital Stock" and is more important than the authorized shares or float. It is used in the calculation of many widely used metrics including "market capitalization" and "Earnings-per-Share (EPS)".
*"float Definition 1
The number of shares of a security that are outstanding and available for trading by the public."
*Float Number of shares of a stock available to the public.
*Form 144 filings report the proposed sale of any restricted stock. While this includes company insiders, it also includes anyone who owns restricted stock, as defined above, regardless of how many shares.
*Subject: Stocks - Outstanding Shares and Float Next our example company sells some percentage of the authorized shares to the public, possibly via an inital public offering (IPO). The company chooses to sell 10% of the authorized shares to the public. In addition, as part of going public, the company grants 10% of the authorized shares to employees etc., but these people cannot sell their shares for six months. So after the IPO, 200,000 shares are publicly held, and the rest is in the company treasury. We say that the number of shares outstanding is 200,000. However, due to various restrictions placed on the employees, their share holdings cannot be traded. While the restriction on insiders (commonly called a lockup) is in force, just 100,000 shares are available for trading, so the float is 100,000 shares http://invest-faq.com/cbc/stock-outstanding.html