The number was 454m in the Q for 9/30/2011. Add in the potential LPC shares to get to where the number is now at 527m. so the number is hardly changed for a long time except for the LPC deal which will likely be consummated at a much higher price but you have to assume the highest number. And this number will come down over time as warrants expire which were once in the $1 range....or maybe not!!!!
What Poorme is leaving out is that for those shares to come to light, many are tied to milestone warrants and shares for Epics 8 drugs and other warrants. The preferred have been whittled down really well and the death spiral financing is almost entirely over now with the conversion of all the preferred.
Elite gets a profit split on those drugs forever and has only to provide Epic access to the facility. It's basically clean profit forever.
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