Actually Pete, ..in that PR phil stated that the 300M A/S was done a year ago. In that same PR he said dilution due to acquisition is not anticipated to exceed 150M shares. The 10Q is wrong. I scrutinized it too and somewhere in the eearlier 10Q it was mentioned 300M. Let me find it,,the I'll post a link.Anyways O/S end of Dec 2004 was something like 72M shares. By the by just for your memory, Phil is operating in SHark waters..i.e as far as the capital markets is concerned. So I will give him some flexibility to accomplish his dreams which I believe is ours too! just guessing!