Tjeffries,
You are correct about the 15M O/S shares as of June 30, 2001. I don't dispute your number as being wrong. However, you failed to notice the outstanding shares had ballooned to 28M by September 30, 2001, and the majority of the increased shares were issued in July 2001.
You also failed to notice that from your date of June 30, 2001 to July 16, 2001, there were a gap of 16 days, and there were 11,579,500 shares issued in this period of time. (see the table I extracted from SEC filing below).
I stand by my number of 27M as being the correct outstanding shares on record date for the preferred shares dividend. (27,048,907 shares if you want to be exact to the nose).
Here are some data I copy and paste directly from the 10Q. Read them and you will know exactly what I am talking about :
Common Stock, Class A, $0.001 Par Value, 99,900,000 shares authorized, 15,469,407 issued and outstanding as of June 30, 2001.
Common Stock, Class A, $0.001 Par Value, 99,900,000 shares authorized, 27,936,620 issued and outstanding as of September 30, 2001.
Balance, June 30, 2001...............15,469,407
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CS issued for cash at $0.001 per share 10,000
CS issued for services at $0.24 per share 2,579,500 (issued July 2001)
CS issued for services at $0.24 per share 1,800,000 (issued July 2001)
CS issued for services at $0.20 per share 6,450,000 (issued July 2001)
CS issued for services at $0.20 per share 800,000 (issued July 2001)
CS issued for services at $0.14 per share 700,000
CS issued as collateral for loans (8/4/00)5,927,713
CS issued for services at $0.09 per share 150,000
CS issued for services at $0.08 per share 500,000
CS issued for services at $0.06 per share 500,000
CS issued for services at $0.03 per share 500,000
CS canceled (7,200,000)
CS canceled (500,000)
CS issued for cash at $0.02 per share 250,000
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balance, September 30, 2001..... 27,936,620
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