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Bobr,

 Excerpt From March 1, 2010 release:

 As a result of this placement, the Company now has 28,571,430 shares of common stock issued and outstanding, 7,086,078 shares of preferred stock outstanding (convertible into the same number of shares of common stock), and warrants outstanding exercisable for an aggregate of 3,936,726 shares of common stock. Assuming our preferred stock is fully converted and no warrants are exercised, management and insiders own approximately 80.5% of the common stock of the Company.

 The release you are actually referring to was 50K shares not 50 million.

Maj

~39 million is what company sent to me.  Maybe 50 mil is with warrants? Where do you see that figure??

Maj