If you mean 6B authorized,that is correct. As of close of market yesterday market cap was $47,095,480.
Divide that by the close of market share price of .0204 yesterday and you get 2,308,601,980 outstanding shares ,which is exactly the number of O/S listed on otcmarkets.com.
See my previous posts. Their PR's state a structured plan to retire insider shares in proportion to 60% buyback of the float.
This will facilitate a higher price and earlier entry into OTCQX(if they desire) and eventually a higher exchange and possibly reduce shares by 60%.
They may have another buyback after that buyback and so on. It's common for these companies ,upon achieving substantial revenues ,to buy back their undervalued shares for the reasons noted in my posts.
Also,re others statements,why would they be selling when they know share price will rise dramatically w shipments/revenue shortly. Selling now would just penalize them later when they have to buy back at a higher price.
They are 3 million under budget(see latest PR) so they don't need to sell-just to turn around and buy back at a higher price.
Would you do that-of course not. People who suggest these things have an unassailable predetermined viewpoint/interest unaffected by the facts,even suggesting the pictures of production activity were fake,even after independent verification.
They will initiate buyback,according to project manager Bullitt as noted on this board(killswitch reposted Bullitts post recently),in Feb when they have revenues.
To my knowledge there have been no restricted shares since March 2010,so the perennial cry that volume is the result of recently released unrestricted shares doesn't make sense either. There has been no evidence of dilution other than shorting/naked shorting.
I don't think recent price rise is due largely to shorts covering because the actual number of shares shorted rose from ca 26 million to 49 million,so we may yet see the mother of all short squeezes(moass).
The 2.308 billion shares minus the 1.75 billion held by CWRN(insiders)as publicly noted would leave a balance of 558 million shares,which is thus possibly the float.
The last company listed free trading shares(just before all the activity began last summer) was 299 million. If CWRN issued additional shares to pay for permits and other incidental start up costs,while the major financial backer paid for the equipment,that would reasonably yield a present float of 558 million.
We will know for sure when they issue filings in April.
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