229 represents an outdated filing. If you look at the share agreement filed 14 Feb it states the current O/S was 334M. FROZ burned through roughly 150M in issuance to settle the IBC agreement that some folks keep regurgitating; I believe that issuance began on 10 Feb and ended around 19 Feb.. See my post here:
Since Friday, we've gone through another round of share issuance. We haven't seen a filing explaining it, which means they're either raising money or paying off creditors outside of any settlement agreement.
Last Friday, volume was about 70M. Yesterday was about 60M (i believe..) Today was 46M.
That's about 180M shares traded, most on the bid. Take 1/3 of that away and you're left with about 120M shares, which is roughly what you would need to settle, to execute a merger agreement priced at $500K, based on the current PPS 3-day average.
So... Current O/S should be sitting at about 600M right now. If you've played any R/M's before, then you've probably seen this number, slightly higher, or slightly lower. Definitely R/M range for the current PPS.