To end the back and forth, the only number to use is 1,746,953,540.
Risk received the following number from the TA 1,639,282,115
That is a difference of about 107m shares. The notion of retiring shares is just foolish. It appears obvious that the 133m share offering did not finish going through the TA prior to the Q release. That offering was to retire 333k worth of debt.
With that said the OS is likely around 1.77 billion now.
The TA is gagged and not releasing information. I put money on the fact that word got out to management about Risk announcing the OS number and they do not want incorrect counts going around. At the time of the call the number was accurate but it was set to change.
Long story short, the TA states the company wants shareholders to use the filing as the OS count. I recommend we do just that. The company likely knows more about the OS than any of us.
Also the company had already stated that 101k was generated during Q2 for funding. Since the filing was Q1 the number is not reflected on the balance sheet yet. This amount is clearly short of what they need based on historical cash burn rates but not by a large amount. There will however need to be more dilution for Q4 funding and to date there is no equipment to process so the company already stated their intent to do another PP to purchase such equipment.
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