... he simply misspoke. When Beacon said total outstanding he actually put up the fully diluted number.
I'd have to go look and I don't have time to, but it doesn't seem possible that a recent fully diluted number would be anywhere near 1.5 billions shares. Fully diluted assumes every convertible share and warrant converted or cashed in and adds it all up. I could be wrong. Clawmann can probably clear it up.